French utility Gaz de France (1020848.FR) said Monday it has entered into an agreement with PowerGas, a wholly owned subsidiary of Singapore Power, to jointly build and operate Singapore's first LNG terminal.
Gaz de France shall hold a 30% share of the Project Company.
The terminal will be built on a 30 hectare site on Jurong Island. It is scheduled to be operational in 2012 and will have an initial capacity of 3 million tonnes per annum, or mtpa.