[Asian Power/Ocotber 9] Singapore’s EMA(Energy Market Authority) and South Korea’s KOGAS(Korea Gas Corporation) have signed a new memorandum of understanding that will allow both parties to explore the joint procurement of liquefied natural gas (LNG).

EMA said the deal, signed on October 8 at the Singapore-Korea Business Forum​, would strengthen Singapore's LNG supply and energy security, as natural gas remains a key part of the city-state's energy mix during the transition. 

“This partnership with KOGAS is an important one for us in enhancing our knowledge and expertise in the management and procurement of LNG supply. Joint procurement with other LNG buyers can potentially bring benefits to all parties such as better contract terms and pricing,” said EMA Chief Executive Puah Kok Keong.

Prior to this, EMA and KOGAS signed another deal in June for the exchange of knowledge and best practices regarding LNG procurement and supply chain management.