WELCOME REMARKS BY MS CHAN LAI FUNG, CHAIRMAN OF ENERGY MARKET AUTHORITY, AT THE SINGAPORE ENERGY LECTURE 16 NOV 2009, 9.45AM, SHANGRI-LA HOTEL

Dr Daniel Yergin, Chairman, IHS CERA

Excellencies

Distinguished guests

Ladies and gentlemen,

1. Welcome to Singapore and to the 2nd Singapore Energy Lecture.
2. Earlier this year, when we were planning for this event, the world was still in the throes of the global financial crisis.  The economic outlook was bleak and uncertain.  We entertained fleetingly the thought of cancelling the event for this year.  But we concluded that it would have been unwise.  Whatever might be the shape of the global economy, we still have to confront the same set of issues that we were grappling with before the crisis.
   
3. We would still have to face a carbon-constrained future.  Policy makers still have to balance the often competing objectives of having energy that is economically competitive, energy that is diverse and secure, and energy that is clean.  Industries and businesses still have to be alert to new challenges and opportunities in an evolving energy landscape.  The complexity and interdependencies surrounding energy issues will continue to grow.  Whatever the state of the global economy, these issues do not go away.
   
4. Despite the gloomy outlook in the earlier part of the year, we persisted with our plans, believing that the Singapore International Energy Week (SIEW) can play a useful role even in the most trying of times.  Thankfully, the worst of the crisis seems to have passed.  We are delighted with the large turn-out here today.  We are also heartened by the huge number of participants who have registered up for the other events for the rest of the week.
   

Singapore International Energy Week


5. The aim of SIEW is to provide a platform for policy makers, academia and industry leaders to come together to discuss and debate issues on energy sustainability, security, innovation and investment.  This year, the theme is “Clean Energy: Sustainable Solutions for Urban Cities”.  The Energy Market Authority and the Energy Studies Institute have lined up a week-long programme which we hope will contribute to the on-going discussion in search of sustainable solutions for a sustainable future.
   
6. The event this year has brought together some of the world’s leading energy thought leaders to share their perspectives with us.  They include Dr Daniel Yergin, Chairman for IHS Cambridge Energy Research Associates who will deliver the 2nd Singapore Energy Lecture.  Other speakers include Mr Nobuo Tanaka, Executive Director of the Internal Energy Agency; Alan Bryden from the High Council for Industry, Energies and Technologies from France; Professor William Hogan from the John F Kennedy School of Government, Harvard University; Mr David Hone from Shell; and Mr. Michael Liebreich from New Energy Finance, just to name a few.
   
7. In addition to high-level discussions on sustainable energy solutions, there will also be business forums, networking events and trade exhibitions such as Platts’ Annual Top 250 Global Energy Companies Awards and Leadership Dinner, The Singapore Electric Vehicle Roundtable, Smart Grids 2009 and Clean Energy Expo Asia.  In total, we have over 5000 participants from more than 1800 companies attending the various events during the week.  I am pleased that the response to SIEW 2009 has been so encouraging and I thank all of you for your support.
   

Conclusion


8. This morning, I look forward to Dr Yergin’s lecture as well as a short video address by Mr Tony Blair, to begin our exchange of ideas and insights on the future of energy.
   
9. I wish you all a fruitful week ahead, and a rewarding time in Singapore.