Singapore
Almost 90% of Singapore's primary energy consumption comes from petroleum use, mostly for refining.
Access to the sea and a strategic location between the Indian and Pacific Oceans enabled Singapore to become one of Asia's main energy and petrochemicals hubs and one of the world's top-three oil trading and refining centers.
Singapore has world-class refining, storage and distribution infrastructure. Singapore has no oil reserves and imports all of its crude oil.
Singapore has liberal foreign investment laws, and companies receive tax breaks for investing in the petrochemical sector.
Oil from United Arab Emirates, Saudi Arabia, and Qatar accounts for over 50% of Singapore's crude imports.
The refining and petrochemical industry is critical to Singapore's economy.
The Singapore Government published The National Energy Policy Report. The report contains the energy framework for the economies objectives for economic competitiveness, energy stability and economic stability.
Key Energy Strategies
Strategy 1: Promote Competitive Markets
Strategy 2: Diversify Energy Supplies
Strategy 3: Improve Energy Efficiency
Strategy 4: Build Energy Industry and Invest in Energy R & D
Strategy 5: Set Up International Cooperation
Strategy 6: Develop Whole-of-Government Approach To Energy Policy
CONCLUSION
By Singapore keeping a strategic focus on their R&D initiatives, they will be able to generate the most impact from the limited
resources.
The development of clean energy technologies and sustainable energy solutions will not only help to improve Singapore’s own urban environment but also position them favourably to capture the new economic opportunities that are emerging.
By leveraging their existing strengths, building new capabilities in clean energy and integrating these technologies at a systems level, Singapore's aim is to develop unique energy applications for themselves, the region and beyond.
Source: Ministry of Trade and Industry Singapore
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