Overheard at: ADS/ARTC Welcome Address and Opening Remarks

by User Not Found Oct 25, 2023, 16:23 PM

Ms Low Yen Ling, Minister of State, Ministry of Culture, Community, and Youth and Ministry of Trade and Industry, on opportunities for the downstream industry arising from the growth of a green economy.

This year’s Asian Downstream Summit & Asian Refining Technology Conference (ADS/ARTC) drew the spotlight on bridging the industry of today with the industry of tomorrow, delving into a spectrum of topics from cybersecurity to sustainable and green financing.

To open the event, guest-of-honour Ms Low Yen Ling, Minister of State, Ministry of Culture, Community and Youth, and Ministry of Trade and Industry, shared insights into the realities and implications of the energy transition towards net zero. Ms Low's Welcome Address and Opening Remarks also revolved around the pivotal role that the oil & gas industry is set to play in this transformative journey.

The oil and gas industry will play a pivotal role in determining the pace of our clean energy transition, an adoption of circular economy practices and how we deploy emerging technologies, says Minister of State Low Yen Ling. #SIEW2023 #ADSADRTC2023 @AD_Insights
— SingaporeInternationalEnergyWeek (@SIEW_sg) October 25, 2023

The transition to a net zero future will involve complex tradeoffs, extending beyond the energy trilemma to encompass aspects of sustainability and energy resilience, Minister Low added.

The interconnectedness of the energy transition impacts everyone, said Ms Low, adding that it is not just a matter of bottom line but also jobs, livelihoods, and cost of living for individuals and communities.

With Singapore being small and alternative energy disadvantaged, we must explore all options towards achieving our decarbonisation goals, says Minister of State Low Yen Ling. #SIEW2023 #ADSADRTC2023 @AD_Insights
— SingaporeInternationalEnergyWeek (@SIEW_sg) October 25, 2023

A spectrum of options is on the table to facilitate this transition, including the National Hydrogen Strategy, ammonia pathfinder projects, various Memorandums of Understanding, carbon capture, utilisation and storage (CCUS), and explorations into biofuels. Minister Low emphasised the pivotal role of industry players in developing and deploying low carbon solutions.

In her address, she outlined two key avenues for potential collaboration, emphasising the deep capabilities of downstream industry players.

These are: 1. Partnering with the government and academia to ensure R&D projects are well defined in purpose and implementation, 2. Partnering the government to accelerate the adoption of clean technologies, says Minister of State Low Yen Ling #SIEW2023 #ADSADRTC2023 @AD_Insights
— SingaporeInternationalEnergyWeek (@SIEW_sg) October 25, 2023

Their technical expertise, combined with the Government's industry support framework, can catalyse the adoption of innovative processes and substantially reduce carbon emissions.

Ms Low concluded by underscoring the vital role of the downstream industry in steering the energy transition towards a net zero world.