Singapore energy report

• Singapore has a very competitive energy market.
• The government targets 2 GW of solar PV by 2030 and an energy storage deployment of 200 MW beyond 2025.
• Senoko Energy, Tuas Power, and YTL PowerSeraya are the main power generators with around 60% of the total capacity.
• ExxonMobil and Shell dominate the refining.
• Singapore is a major oil hub in Asia and the world's third largest oil trading place.
• Natural gas accounts for 95% of the power mix.
• Energy prices in Singapore are market based and are among the highest in the region.
• Non-energy uses represent the largest share in the final energy consumption.
• Oil supplies two thirds of total consumption, but its share is decreasing.
• Electricity demand is expected to grow by up to 2%/year by 2030.
• A 4 500 km power interconnection between Australia and Singapore is expected for 2027.

• Institutions & Energy Policy

  The energy sector is controlled by the Energy Division (ED) of the Ministry of Trade and Industry. The Energy Division lays down the sector's strategic policy and the country's energy policy. The policy goals are to ensure economic growth, energy security, competitiveness and sustainable development.

• Energy Companies

  Oil:

  Although Singapore does not produce any oil domestically, some companies are involved in exploration and production overseas. This includes Singapore Petroleum Company (SPC), a fully owned subsidiary of PetroChina and Kris Energy, with production and exploration permits in five countries.

• Energy Supply

  Gas:

  Singapore imports natural gas through three gas pipes and one LNG regasification terminal. One 4 km cross-border gas pipe links the country to Malaysia. The second pipeline is the 654 km West Natuna Transportation System pipe, which connects the gas fields of West Natuna in Indonesia to the industrial area of Jurong Island.

• Energy Prices

  Oil:

  The price of premium gasoline (US$1.41/l in 2020) and that of diesel (US$1.39/l) follow international prices (2019). The price of gasoline and diesel are much higher than in Malaysia (around three times for gasoline and twice for diesel in 2019). Compared to Thailand, these prices are around 25% more expensive.

  Graph: GASOLINE & DIESEL PRICES (US$/l)

• Energy Consumption

  Total energy consumption per capita is about 5.4 toe (2019), including 9,100 kWh of electricity in 2019.

  Oil has a dominant share in the country's total energy consumption, with 67% in 2019. However, its share has fallen due to the increased demand for gas (from 6% in 2000 to 30% in 2019). Biomass and coal have shares of 2% and 1%, respectively.

• Issues & Prospects

  In 2014, the National Climate Change Secretariat (NCCS) released five technology roadmaps to guide the nation in preparing its energy future. The five roadmaps are - Solar Photovoltaic, Carbon Capture and Storage, Green Data Centre, Building Energy Efficiency and Industrial Energy Efficiency.

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY COMPANIES
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Singapore energy market report graphs:

• GRAPH 1: CO₂-energy Emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2019, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2019, %)
• GRAPH 5: Gasoline & diesel prices (US$/l)
• GRAPH 6: Electricity prices for industry and households (US$c/kWh)
• GRAPH 7: Gas prices for industry and households (US$c/kWh GCV)
• GRAPH 8: Consumption Trends by energy source (Mtoe)
• GRAPH 9: Total consumption market share by energy (2019, %)
• GRAPH 10: Final consumption market share by sector (2019, %)

In the Singapore energy market report you will find the following tables:

• Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO₂ emissions.
• Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
• Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
• Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
• Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.