REFILE-UPDATE 1-Singapore takes over LNG project-minister
By : (Corrects title of minister in paragraph 3 of story dated June 30 to ...senior minister of state fo
Date posted :2009-07-03 05:17:00
* Govt aims for the terminal to be operational by 2013
* GDF Suez confirms the consortium dropped the project
* Terminal is latest Singapore project delayed due to crisis (Updates with GDF Suez, industry reactions)
SINGAPORE, June 30 (Reuters) - 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, and defer its completion by a year to 2013.
The PowerGas-led consortium, which included GDF Suez (GSZ.PA) with a 30 percent stake, had been due to make its final investment decision this month for the project slated to have a 3 million-tonne annual capacity when completed in 2012.
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