Frontier Economics (leading a consortium including Norton Rose, Singapore-based lawyer Gary Maguire and an engineer) has recently been retained by the Singapore Energy Market Authority to design a secondary gas trading market (SGTM) for Singapore.
The core of the project incorporates two phases:
- Phase 1: Developing a design for the SGTM. The key tasks in this phase are to review the work that has been undertaken to date in preparation for the introduction of the SGTM in Singapore; develop this analysis drawing on our expertise, experience and the input of the industry working group and industry consultation; and recommend a final design for the SGTM.
- Phase 2: Documenting the gas market rules required to underpin the legal framework for the SGTM. This involves analysis of how existing arrangements, including the Gas Network Code, need to be amended as well as drafting the required legal instruments to bring the new regime into effect.
The project is expected to be completed in 2018. Frontier regularly advises clients, including energy market regulators, in the gas sector across the Asia-Pacific.