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The city state relies on gas to generate 95 per cent of its electricity. The measures are to safeguard the country’s energy security after surging global gas prices roiled the city-state’s electricity market in recent years. “This will create greater economies of scale and allow us to negotiate more favourable gas-contracting terms, procure gas from diverse sources to reduce concentration risk, and enter into longer term gas contracts to provide more stable prices and supplies,” Gan said.
Singapore Latest News, Singapore Headlines
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