Planning Ahead - Gastech 2015 in Singapore
Engineering and commercial representatives from BS Stainless are currently in South Korea at Gastech 2014, the world's most important Liquid Natural Gas (LNG) exhibition and conference. A full report on the conference will be published soon but, in the meantime, we are already planning ahead to the next Gastech conference which will be held in Singapore in 2015 on the 27th - 30th of October at the Singapore EXPO.
Lying just off the Malay Peninsula’s southern tip in South-East Asia, Singapore comprises a large mainland and over 60 smaller surrounding islands. The country is a major global commercial hub, playing host to the fourth-largest financial centre in the world along with one of the top five busiest global ports. A fully diversified and globalised economy has seen Singapore's per capita income rise to the third-highest in the world and its population enjoy access to highly-developed healthcare, education and infrastructure.
A major contributor to Singapore's enviable international reputation for economic development is its vibrant and thriving energy industries which produce, transform and supply various types of energy to an extensive array of applications. Providing almost 80% of Singapore’s total fuel mix for the generation of electricity, LNG is of major importance to the region, which currently imports an average of 7 million metric tonnes each year from neighbouring Malaysia and Indonesia. Singapore is now, however, positioning itself to directly access the increased supply of LNG around the world and work on the country's third massive storage tank will be completed later this year, enabling valuable opportunities for access to LNG at a market-competitive price.
Singapore is one of ten countries that form the Association of South-East Asian Nations (ASEAN); this group of countries has recently witnessed an unprecedented surge in energy demands, particularly for LNG. By 2035, according to the International Energy Agency (IEA), demand for LNG will have risen by a further 80% by the year 2035.
Strategically located and possessing the required infrastructure and financial expertise, Singapore continues to grow in global importance as a major LNG trading hub. If, as looks likely, this hub becomes well established, it is predicted that LNG prices will fall around the world as the Asian price for gas is separated from the more traditional indexation with oil, a commodity that is subject to rapid and dramatic fluctuations in value.
It is clear that Gastech 2015 Singapore will be an exciting and interesting event as current and future strategies are discussed and presented by keynote speakers along with many professionals involved with the sector. As BS Stainless are world-class providers of stainless steel products, used in everything from construction to insulation, to various LNG industries across the globe, our representatives our an essential presence at the event.
The Launch Party for Gastech 2015 Singapore will take place this evening and we are looking forward to attending. Check back regularly for updates or subscribe to our newsletter to make sure you stay up-to-date with the latest information and news from BS Stainless.
Please visit www.gastechsingapore.com to find out more about the event.
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