Singapore is taking steps to safeguard its energy supply amid growing concerns over resource nationalism. The country is diversifying its suppliers, expanding storage capacity, and developing new infrastructure, according to a speech by Singapore’s Minister for Energy, Trade and Industry Tan See Leng on Monday.
The moves come as Indonesia began reducing natural gas exports to Singapore on Saturday. The cuts are part of President Prabowo Subianto’s efforts to prioritize domestic supply. Singapore’s Energy Market Authority has assured that the country has adequate supplies, noting that the reductions represent less than 2% of its total daily gas demand.
Tan See Leng emphasized that there is no immediate concern of shortages, despite the export cuts. The government’s proactive measures aim to mitigate potential risks and ensure energy security for the city-state.