Singapore energy report

• Singapore has a very competitive energy market.
• The government targets 2 GW of solar PV and to capture 2 MtCO₂/year via CCUS by 2030.
• Senoko Energy, Tuas Power, and YTL PowerSeraya are the main power generators, with 60% of the total installed capacity.
• ExxonMobil and Shell dominate refining.
• SembCorp and Pavillon Gas have ¾ of the gas market.
• 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.
• Gasoline and electricity prices for households are around 3 times higher than in Malaysia.
• Non-energy uses represent the largest share in the final energy consumption.
• Oil covers 70% of the country's total consumption, but its share has been decreasing at the expense of gas.
• Electricity demand is expected to grow by around 3%/year by 2032.
• The country plans to import up to 4 GW of low-carbon electricity by 2035 from Malaysia and Indonesia.

• 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

  Oil:

  In spite of the absence of oil resources, Singapore is a major oil hub in Asia. It is the world's third largest oil products trading place. Thanks to its geographical position, at the extremity of the Strait of Malacca and on the shipping, routes connecting the Middle Eastern producing countries to the Southeast Asian importing countries, Singapore is a key crossing point for oil trade.

• Energy Prices

  Gas:

  In 2020, gas prices stood at US$11.95c/kWh for industry and US$13.17c/kWh for households.

  Graph: GAS PRICES FOR INDUSTRY AND HOUSEHOLDS (US$c/kWh GCV)

  

• Energy Consumption

  Total energy consumption per capita is about 5.8 toe (2020), including 8 900 kWh of electricity in 2020.

  Total energy consumption increased rapidly from 2010 to 2017 (5.8/year) and has decreased since then (-1.9%/year), reaching 33.1 TWh in 2020.

• 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 (2020, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2020, %)
• 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 (2020, %)
• GRAPH 10: Final consumption market share by sector (2020, %)

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.