2. Speeches
Opening Remarks by Min(EST) Tan See Leng at the Singapore-IEA Forum
28 October 2025
Honourable Ministers and Excellencies of the IEA Family,
Dr Fatih Birol, IEA Executive Director,
Ladies and Gentlemen,
A very good morning to all of you. It is my pleasure to welcome all of you to the Singapore-IEA Forum at the 18th Singapore International Energy Week.
2 Across Southeast Asia, energy demand is set to grow significantly in the coming decades. This growth presents both opportunities and of course challenges at the same time. On one hand, it reflects the region’s economic dynamism. On the other, it demands that we confront the energy trilemma: advancing our decarbonisation, safeguarding energy resilience and how to keep costs in check. Addressing this complex challenge will require us to be a lot smarter, as well as more connected and secure, which is also the theme of today’s forum.
Smart: Smart grids powered by advanced digital technologies
3 First, there is this old adage, “There will not be transition without transmission”. Grids are the backbones of our energy systems. Maintaining grid reliability will become more challenging with the introduction of intermittent renewable sources as well as new sources of demand such as EVs as well as Data Centres. We need to build smarter grids that are optimised by advanced digital technologies such as AI, automation, and data analytics.
4 AI can help us to improve demand forecasting and optimise grid operations. It can integrate higher shares of renewable energy while maintaining system stability. Predictive analytics can enhance asset maintenance and reduce downtime, as well as lower operational costs. According to the IEA’s Energy and AI report published earlier this year, IEA projected that if existing AI technology such as load forecasting and predictive maintenance was widely applied, there could be up to US$110 billion of global savings annually by 2035.
5 For Singapore, we are progressively deploying AI in our own grid. For example, our Grid Digital Twin allows us to monitor and simulate our national power network in real time - enhancing asset health, predicting risks, as well as optimising investments. We would be very happy and keen to collaborate further with the IEA to improve operational efficiency for Singapore as well as the region.
Connected: ASEAN Power Grid
6 The second key factor for accelerating decarbonisation is to deepen regional interconnectivity through the ASEAN Power Grid.
7 The win-win benefits of cross-border electricity trade are clear. In its Southeast Asia Energy Outlook 2024, the IEA projects that the average cost of electricity in Southeast Asia will fall from US$120/MWh today to just under US$100/MWh by 2035, about a decade from now, and to approximately US$80/MWh by 2050, as the generation mix shifts to more cost-competitive renewable sources. Not only would realising the APG vision allow countries to trade energy to catalyse new generation capacity, it will also facilitate access to more affordable electricity within the region. A Singapore-US Feasibility Study on regional power grids also found that greater regional energy integration will generate economic growth by driving investments and creating new jobs in the renewable energy manufacturing sector.
8 To realise these benefits, all of us must come together. We must first provide regulatory clarity so we can kickstart project development. A fortnight ago, at the 43rd ASEAN Ministers on Energy Meeting (AMEM), ASEAN Energy Ministers endorsed the Terms of Reference for establishing an ASEAN Submarine Power Cable Development Framework. When completed, the Framework is meant to facilitate subsea route surveys in their waters, as well as the laying, maintenance, and protection of submarine power cables in our region.
9 We look forward to the IEA and ASEAN working closely to develop a robust Framework drawing from experiences from other regions with established interconnected subsea power cable systems, and adapting it to the ASEAN context. Given ASEAN’s size and geography, overland grids alone will not be enough to connect sources of renewable energy with their demand centres. Subsea routes actually expand greatly the possibilities of APG interconnections and create a series of even more resilient networks.
Secure: The role of gas in energy security
10 Lastly, even as we progress in the transition, natural gas will continue to underpin the security of our energy systems. As the IEA has also noted in its Gas Market Reports, gas-fired power plants are a practical way to respond to both seasonal and short-term demand fluctuations. This inherent flexibility ensures that as we integrate increasing amounts of solar and wind energy, our system remains consistent and reliable.
11 Singapore is strengthening our energy security with two key initiatives - the establishment of a central procurement entity called Gasco and the development of our second LNG terminal. Gasco will centralise gas procurement to secure reliable and competitively priced supplies for our power sector, while the new terminal will grow our import capacity by 50% and allow us to import gas from all over the world. Together, they will ensure Singapore’s energy system remains robust, flexible, and ready to support our transition to a cleaner and more sustainable future.
12 Singapore will continue to ensure our energy security is not compromised as we introduce new energy sources. Later in the session, EMA will be signing an MOU with the Australian Energy Regulator (AER) to promote cooperation and knowledge exchange on gas and electricity markets. We look forward to similarly strengthening regional capacity for regional regulators, utilities, and policymakers through the annual Singapore-IEA Regional Training Hub, which will enter its 9th run this year.
Conclusion: Looking ahead
13 Ladies and gentlemen, in conclusion, I do not believe that any country can undertake energy transition on its own. Singapore is honoured, very privileged, to call the IEA our steadfast partner on this journey. Last year, we established the Singapore-IEA Regional Cooperation Centre in Singapore. This is IEA’s first office outside of Paris. I thank the governing board for your support and Dr Faith Birol for his efforts in driving this through. In just one year, under the very wise leadership of Sue-Ern, who is here with us, the Centre has become a hub for training, dialogue, and capacity building in our region. For example, we are heartened to hear that the Centre intends to work closely with the ASEAN Centre for Energy on an ASEAN Energy Security Review.
14 Through smarter technologies, deepened regional grid interconnection, and ongoing efforts to strengthen energy security, we can all create an energy legacy that is resilient, sustainable and secure for our children and our children’s children.
15 Thank you and I wish everyone a very fruitful Forum ahead.