Event report • Interview
Past Event | A conversation with Mr. Shih Chun Ngiam, Chief Executive of Energy Market Authority (EMA)
Thank you to Mr Shih Chun Ngiam, Chief Executive Officer at Energy Market Authority (EMA), for an insightful discussion on Singapore’s Energy landscape with our members. Moderated by Mrs Sophea SENG, Head of Energy Financing and Advisory activities for Société Générale Southeast Asia, the dialogue was dynamic, engaging, and filled with numerous questions from the audience.
Key takeaways from the dialogue:
1. Natural Gas and Renewable Energy Integration
- Current energy mix:
- Natural gas constitutes 90% of Singapore's energy mix but is not zero-carbon.
- There is an ongoing effort to exceed current renewable energy targets by 2030.
- Solar energy: Capacity factor and limitations of solar energy
- Significant investment in solar energy, with efforts to utilize reservoirs, rooftops, and available land.
- Global renewable energy collaboration:
- Exploring renewable energy potential in neighboured countries with strong resources.
- Developing grid connections to import green energy, which also aids in the development of these countries.
- Emphasis on continued natural gas use as a transitional fuel.
2. Singapore’s national hydrogen strategy
- Hydrogen readiness by 2030:
- Singapore aims to have a minimum of 9 hydrogen-compatible plants ready by 2030.
- Announcements in 2022 by PM L. Wong regarding the hydrogen strategy highlight this commitment.
- Economic considerations:
- Initial high costs for new energy technologies (similar to early solar and battery technologies).
- Potential of hydrogen as a future solution despite current high costs.
- Request for proposals on low-cost hydrogen ammonia solutions.
3. Decarbonization Efforts
- Carbon capture initiatives:
- Investment in carbon capture technology as a key strategy for decarbonization.
- Lack of local storage space necessitates agreements with other countries.
- Comprehensive package discussions with countries to combine purchasing gas, renewables, and carbon capture solutions.
4. Nuclear Energy
- Feasibility studies:
- Consideration of nuclear energy as an alternative.
- Collaboration with international agencies to assess feasibility and safety.
5. Interconnected Grids and International Collaboration
- G2G (Government to Government) initiatives:
- Working closely with other countries to accelerate progress and reduce expenses.
- Importance of mutual net-zero commitments by governments to ensure long-term viability.
- Investment and trust:
- High CAPEX investments require long-term trust and commitment between exporting and importing countries.
- Addressing technological and commercial issues for the first implementation in Asia.
- Example: Collaboration with Indonesia.
6. Singapore's competitive edge in Hydrogen
- Learning from other technologies:
- Historical precedence of cost reduction in solar and battery technologies as a model.
- Recognition of hydrogen's potential despite initial high costs.
- Strategic requests and proposals:
- Specific request for proposals on low-cost hydrogen ammonia.
- Emphasis on innovative solutions to make hydrogen economically viable.
A special thanks to Société Générale for hosting us.
This event was supported by our Series Partner Schneider Electric.
For more information, please contact Lydia Fulton lfulton(@)fccsingapore.com
