Singapore is forging ahead in its pursuit of decarbonisation, spearheading initiatives that include electricity imports and exploration of alternative energy sources. In this episode of SIEWCast, Money FM’s Michelle Martin engages Ngiam Shih Chun, Chief Executive of the Energy Market Authority (EMA), in a compelling conversation on Singapore's net zero journey. Tune in to hear his insights on Singapore’s ambitious strategy for low carbon energy alternatives and the pivotal role of cross-border collaboration in propelling the nation towards its net zero goals.
Show Notes:
In this episode, we discuss…
- Singapore’s progress towards importing 4 gigawatts of low carbon electricity by 2035.
- The vital role of hydrogen in the decarbonisation journey and exploration of other low carbon alternatives
- The significance of regional and international collaboration in driving the energy transition.
- The close collaborative efforts between Singapore and the US on energy initiatives.
- Progress towards establishing a regional power network and shaping the future green economy.
Key takeaways
00:58 | | Singapore received conditional approval to import 1 gigawatt (GW) of electricity from Cambodia and 2GW of electricity from Indonesia. It is now 1GW away from meeting its target of importing up to 4GW of low carbon electricity by 2035. |
01:30 | | In early 2023, Singapore put out an Expression of Interest to assess the feasibility of using ammonia as an end-to-end solution for supply, power generation and bunkering. |
02:17 | | Hydrogen is key in Singapore’s decarbonisation journey. |
02:59 | | The plan is to use hydrogen to replace the natural gas in Singapore’s power plants and build new power plants that burn 100% hydrogen. |
03:09 | | Singapore also plans to explore other low carbon alternatives like geothermal energy, nuclear power and any forms of low carbon alternatives that may emerge in the future. |
03:24 | | Energy transition can only happen with regional and international collaboration. There are many opportunities for countries to work together to share their experience and knowledge. The Singapore International Energy Week is one such platform for leaders and companies to come together to share best practices. There are also tangible forms of collaboration between countries such as the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP). |
05:04 | | Singapore and the US are working closely on various energy projects, including joint training programmes with the US Department of Energy. Both countries have signed a Memorandum of Understanding on energy collaboration. Both countries are embarking on a regional grid infrastructure study to explore the potential for cross-border electricity trading within the region. |
06:02 | | ASEAN vision for a regional power network is fast becoming a reality as countries commit to net zero goals and support from ASEAN ministers for an ASEAN Power Grid. |
07:13 | | As Singapore continues to decarbonise its power system and its neighbouring countries develop their renewable energy sources, this would eventually lead to the development of production and supply chains of solar panels, battery, and energy storage solutions, creating new jobs along the way – setting the foundations for a green economy. |
About our guest Ngiam Shih Chun is currently the Chief Executive of Energy Market Authority. As MTI Deputy Secretary (Industry) since March 2012, Mr Ngiam has played a key role in developing and shaping Singapore’s industrial and economic landscape. He co-led the Secretariat for the Committee on the Future Economy to scan the global environment for challenges and opportunities, review Singapore’s economic policies, and develop key strategies to generate economic growth and create good jobs for Singaporeans. Mr Ngiam worked closely with MTI Statutory Boards to drive key initiatives to transform the tourism sector and on the energy sector front, promote greater competition in the electricity and gas markets, improve competition among power generation companies and expand Singapore’s LNG terminal and services. |
Additional Resources
- Ngiam Shih Chun’s bio
- Singapore now 1GW away from meeting target of importing 4GW of low-carbon electricity by 2035. [00:58]
- Singapore Calls for Expression of Interest to Develop Ammonia Power Generation and Bunkering Solution [01:30]
- Singapore’s National Hydrogen Strategy [02:17]
- Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP) [04:21]
- Singapore-US joint Feasibility Study on Regional Energy Connectivity [05:38]
You can find the transcript of this episode here.
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This SIEWCast episode is brought to you by Singapore International Energy Week and Money FM 89.3, in partnership with ExxonMobil.