Excelerate FSRU may remain offline until August 23, when its next LNG consignment is due

The gas crisis, which is in its fourth week, took a turn for the worse after Summit’s floating LNG terminal ran out of gas around 5:00pm yesterday.

The government yesterday approved a 12-year deal to import 117 LNG cargoes from US-based Gunvor USA LLC amid growing energy demand and supply uncertainty.

The government should speed up domestic gas exploration to expand supply and reduce the country’s reliance on costly imports, according to economists, as the prolonged shortage hurts private investment, industrial output and export competitiveness.

Outage exposes vulnerability of LNG-dependent energy system