Speech by Minister of State for Trade and Industry Gan Siow Huang at 20th LNGA 2026

1.      It is my pleasure to join you at LNGA. Dr. Fesharaki introduced me to the veterans and giants of LNG and shipping. I am very new to this area. I joined the Ministry of Trade and Industry last year after the General Elections, so I’m also here to learn more about the LNG sector. 

Energy Security in Singapore 

2.      Some of you would know that 95% of the power in Singapore is produced from LNG and Piped Natural Gas. The lights and the air conditioning that we enjoy here are powered by natural gas. Thank you to all of you here, who support the flow of fuels, for bringing power and energy to this part of the world. 

3.      Singapore has benefitted from free trade and a rules-based international order. But the world has changed. Geopolitics has changed, and the rules of the international order are also changing. Now more than ever, we need the gurus, experts, and specialists here, who know the business inside out and who are working hard to keep our fuels flowing. 

4.      We have through the years strengthened our energy resilience in Singapore. We have diversified our sources of natural gas. In addition to importing gas from our neighbours, we also import gas from countries like Australia, the US, Qatar, and Mozambique. We have also centralised the procurement of natural gas for the power sector through GasCo and are increasing our terminal throughput capacity. Lastly, we have fuel reserves, primarily in the form of diesel, because our gas turbines in Singapore are able to run on either natural gas or diesel. 

5.      Speaking of diesel, Singapore is also a major oil trading hub, and we have refining capacity on Jurong Island that has proven to be crucial in the midst of this ongoing energy crisis. Nonetheless, prices have gone up, and the government is tracking closely the impact on businesses, on global trade, and on growth for this year.

The Role of Diplomacy in Energy Security 

6.      We all hope that the peace will be restored in the Middle East. I just returned from Turkiye yesterday. I was at the Antalya Diplomacy Forum, advocating for the need for collaboration, to make peace and to have dialogue. Both ministries I’m with, foreign affairs and trade and industry, are really working hand in hand to try to promote peace and stability. This is something that is much needed in this world, and something that Singapore hopes to be able to contribute to. 

Pressing on with the Energy Transition 

7.      Besides natural gas, the Singapore Government is also diversifying our sources of energy. We are focusing on domestic solar deployment, and have just met our 2030 deployment target of 2 Gigawatt-Peak. So, we have raised our target to 3 Gigawatt-Peak by 2030, and we are working hard to go further. We are also looking at other low-carbon alternatives such as hydrogen, and in the future, possibly, civilian nuclear energy. But these are further down the line. We know that the technology as well as the economics are not favourable at the moment, so we will focus on building capabilities in these areas. 

Working together to strengthen Energy Resilience 

8.      We cannot do this by ourselves. Worldwide, we need to have more partners. We need to bring good minds together, and get countries and companies to work together. The Government cannot do this alone – this is my main message. We need the industry, we need you, the people who know the ins and out of this market, of this landscape, to help stitch the solutions together. Over the next two days, I hope you will help us generate more ideas, more partnerships, so that the energy we need so much now will continue to flow. I wish you all the best for the conference. Thank you.