Cambodia Gets Interest From Major LNG Exporters for First Plant

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Or sign-in if you have an account.Keo Rottanak, Cambodia's mines and energy minister in Phnom Penh, Cambodia on July 24. Photographer: Erika Pineros/Bloomberg Photo by Erika Pineros /Bloomberg(Bloomberg) — Cambodia is drawing interest from liquefied natural gas exporters including the US, Canada and Australia, as well as Middle East and Southeast Asian nations ahead of its first plant coming online by next year.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe government will look at both the price and stability of supply when issuing a tender and selecting a shipper, Minister of Mines and Energy Keo Rottanak told Bloomberg Television in an interview on Friday.Cambodia is “doubling down” on LNG as a transition fuel, and the new 900 megawatt plant is part of a plan to diversify energy sources, he added.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againAt present, Cambodia gets about 63% of its energy from renewable sources, a relatively elevated proportion that has helped to shield the economy from the fall-out from the war in the Middle East, the minister said. By the end of the decade that share is expected to have expanded to about 70%, with LNG accounting for part of the other 30%, Keo Rottanak said.Electricity prices have not been increased since the war broke out despite escalating energy prices, with the government helping “absorb the shock,” the minister said. Taxes and duties on fuels have been reduced, a policy that would continue despite extra budget costs of up to $60 million a month, he said.At this difficult time, “we want to make sure that industry continues to grow, at least keep their factory processes going,” he said. “So, if it were to take longer, we will continue to support our households, our industry.”—With assistance from Ramsey Al-Rikabi and Naman Tandon.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.