Singapore's Sembcorp Industries scraps Indonesia gas deal due to regulatory snags
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Sembcorp Industries has terminated its gas sales deal to import piped natural gas from Indonesia's Mako gas fields due to regulatory hurdles. The company stated that it did not receive the necessary approvals from Indonesia, but this will not impact its energy costs or gas supply in Singapore. Sembcorp will rely on its own natural gas sources instead. The deal, signed last September, aimed to import up to 111 billion British thermal units per day. Sembcorp's gas segment reported a 10% drop in annual profit earlier this year.
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