Sets tone for week's theme on "Securing Our Energy Future"

Nobuo Tanaka, former Executive Director of the International Energy Agency (IEA) delivered the Singapore Energy Lecture (SEL) today. The SEL kicked off the Singapore International Energy Week (SIEW) 2011. Sharing his "Comprehensive Energy Security" vision at the Singapore Energy Lecture (SEL), Tanaka noted that there was a need for a new framework on energy security, particularly given the uncertain global economic outlook and heightened price volatility. In his Opening Address, Mr S Iswaran, Minister, Prime Minister’s Office and Second Minister for Home Affairs and Trade & Industry echoed Mr Tanaka’s view that energy security is no longer just about oil supply but also other energy sources. Mr Iswaran also shared Singapore’s multi-pronged strategy to maintain its energy balance and to develop technologies that can help enhance Singapore’s energy security.

"The future of energy security is more complex and difficult today. It requires us to work with neighbouring countries to secure and supply energy needs in an affordable and sustainable way. I would like to see Asian countries work together in the future to create a framework that will achieve an interconnected grid in the region," said Mr Tanaka, currently the Global Associate for Energy Security and Sustainability at The Institute of Energy Economics, Japan (IEEJ).

Mr Tanaka also shared insights into key trends, challenges and opportunities ahead for the energy community. In particular, he gave his views and perspectives on the future of energy markets following the Fukushima disaster in Japan and its impact on global efforts to secure their energy mix.

At the same event, Mr Iswaran, shared Singapore's strategy to addressing its energy challenge of securing reliable energy supplies to sustain the country’s growth. A key thrust of Singapore’s energy strategy is diversification, for which the Liquefied Natural Gas (LNG) terminal was developed. With the LNG terminal due to commence operations by the second quarter of 2013, more options are also being explored for the medium term to enhance Singapore's energy security and fuel mix, he told the 800-strong audience. Among this is the possibility of importing electricity from the region.

Mr Iswaran announced that by the end of this year, the government will commence a public consultation on the regulatory framework and will be looking into possible ways of introducing electricity imports to ensure benefits to consumers in Singapore, without compromising the reliability of the country's power system. Through the consultation, the government hopes to seek further views from the industry and other key stakeholders before it makes a decision on electricity imports.

Highlighting the second thrust in addressing Singapore's energy challenges, Mr Iswaran talked about managing energy demand. He said the city-state does this by pricing energy right to reflect its true cost, without subsidies that can lead to the inefficient use of a scarce and precious resource.

He also spoke about Singapore's third thrust to be a “Living Lab” for innovative energy solutions through the test-bedding of technology which could help Singapore overcome energy constraints in future. Referring to the electric vehicle pilot project which started in June this year, Mr Iswaran announced that Renault-Nissan would be coming onboard as well with two new electric vehicles--the Renault Fluence Z.E. and the Nissan Leaf.

As part of Singapore’s strategy to promote innovative technologies in energy, the Minister also announced the awarding of the Pulau Ubin micro-grid programme to a Singapore-based consortium comprising two companies, Daily Life Renewable Energy and OKH Holdings, to design, build, own and operate the micro-grid, which could supply electricity to residents and businesses on the island.

The Singapore International Energy Week, which runs from 31 October to 4 November, will see a suite of other high-level strategic discussions, B2B conferences and exhibitions, and networking receptions take place during the week. Besides the Singapore Energy Lecture, there will be the Singapore Energy Summit, Asia Smart Grid (new), Carbon Forum Asia, Clean Energy Expo Asia, Downstream Asia, EMART Asia (new), PV Asia Pacific Expo (new), collectively covering the full spectrum of energy verticals including oil & gas, renewable energy, energy trading and smart grids.

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