Singapore Delays LNG Terminal Completion

According to a recent Reuters report, the Singapore government will take over development of its first $1 billion liquefied natural gas (LNG) terminal from a consortium to avoid more delays due to the credit crunch. The PowerGas-led consortium, in which GDF had a 30 percent stake, had been due to make its final investment decision this month for the project. The LNG’s completion was deferred by a year, from 2012 to 2013, making it the latest of several Singapore projects to be delayed due to the financial crisis.