Government Takes Over LNG Plant

The Singaporean government has announced that it will take over the development and ownership of the city state's first liquefied natural gas (LNG) import terminal. S. Iswaran, the senior minister of state for trade and industry and education, made the announcement at a conference on June 30. The news illustrates the difficulties that the private sector is facing in financing major projects during the global economic downturn and shows that where strategic energy security objectives are concerned, government intervention may be necessary to ensure projects' timely progress.

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