Singapore takes a multi-pronged approach to promote energy transition

At the recent Singapore International Energy Week 2021, Singapore’s Energy Market Authority (EMA) stated that Singapore is formulating a long-term plan to replace natural gas, low-carbon electricity imports, renewable energy, hydrogen and other low-carbon alternatives.

In terms of electricity, according to Singapore government data, power generation is the second largest contributor to Singapore’s carbon emissions, second only to the industrial sector, accounting for approximately 39% of total emissions

The rest of Southeast Asia will also continue to be an important source of renewable electricity in Singapore

Regarding green hydrogen, EMA stated that Singapore will introduce green hydrogen into its energy structure within 5 years

In the energy transition, carbon neutral LNG is an important transitional energy

In terms of carbon market financial guarantee, EMA announced that by the end of this year, Singapore will launch a new global high-quality carbon credit trading platform (CIX)