Singapore Shares Initiatives for the Energy Market at the Singapore International Energy Week 2013

October 28, 2013 by  
Filed under Insights

Minister S Iswaran speaking at SIEW 2013

Mr S Iswran, Minister in the Prime Minister’s Office and Second Minister for Home Affairs and Trade and Industry, shares Singapore’s initiatives for the energy market at the Singapore International Energy Week (SIEW) 2013. SIEW is an annual gathering of global energy leaders from the government, industry and international organisations to discuss energy issues, strategies and solutions. This year’s theme, New Horizons in Energy, highlights the resurgence of new oil and gas supplies, and the emergence of technologies that are shaping global energy dynamics.

Singapore is currently diversifying its energy sources through the new Liquefied Natural Gas (LNG) terminal and preparing for solar energy. The LNG terminal started operations in May this year with a capacity of 3.5 million tonnes per annum (Mtpa), and the eventual plan is to expand the terminal with 4 tanks to boost its capacity to 9 Mtpa by 2016.The terminal helps to enhance energy security and allow Singapore to explore opportunities in LNG trading, break bulking and bunkering. Read more

Highlights from the Singapore International Energy Week 2012

December 18, 2012 by  
Filed under Insights

The 5th annual Singapore International Energy Week (SIEW) 2012 starts today and brings together policymakers, energy experts and industry players to discuss energy issues, strategies and solutions. The SIEW 2012 Opening Keynote Address was delivered by Maria van der Hoeven, Executive Director of the International Energy Agency (IEA), who shared her thoughts on Asia and the global energy economy.

Maria highlighted the new reality of risks due to slowing economic growth and geopolitical uncertainties, but there are still positive signs for oil and gas supplies. There is a growing role for Liquefied Natural Gas (LNG) as global LNG trade will increase by one third over 2011-2017, ASEAN countries are looking at LNG imports, and Asia is the second largest gas consuming region. At the moment, there is no trading hub for natural gas in Asia, although Singapore could be a possible gas trading hub with its experience in oil trading. Read more