5 Ways Singapore’s Contribution to the Energy Sector
Singapore’s energy sector has come a protracted way since its time period. Over the last 50 years, it has moved from fossil fuels to cleaner power generation. It also has more use of alternative energy, particularly on rooftops solar energy panels.
Singapore’s strategic location between the Indian and Pacific Oceans and near the Strait of Malacca has allowed it to become one of Asia’s major petrochemical and refining centers and oil trading hubs. Currently, 95% of Singapore’s electricity is produced using gas, while the remainder is produced by oil, municipal waste, and solar.
With challenges caused by global climate change, we’ll have to change the way we use and produce energy. This can be particularly so if our energy demand continues to rise with our economic development. Working towards a future where energy is reliable, produced, and consumed efficiently, let’s see how Singapore contributes to the energy sector.
Singapore and Energy Sector
Singapore has world-class refining and distribution infrastructure. Jurong on the southern fringe of the country is known as Singapore’s petrochemical industry. Several major international energy companies operate retail networks within the area. Singapore’s government plans to push long-term growth in refining capacity and oil storage capacity so as to take care of its market position as a refining and oil-trading leader.
Our Energy Story may be a long-term effort. The Energy Market Authority is going to be working with various stakeholders, from businesses to research communities, youths, and unions. Therefore the general public to realize this vision of a cleaner and more efficient energy future.
Singapore has no indigenous hydrocarbon reserves and must import all its fossil fuels. In 2015 Singapore’s total primary energy consumption included approximately 87% of fossil fuel and petroleum products, 13% from gas, and fewer than 1% of other fuel sources, per the recent BP Statistical Review of World Energy.
Different Ways of contribution to the Energy Sector
Here are the different ways showing how Singapore contributes to the Energy sector:
1. Solar Power
Solar remains the foremost promising renewable energy source for Singapore, while energy storage systems allow us to counter the intermittency of renewable energy sources like solar. Singapore has achieved its 2020 solar target of 350 megawatt-peak (MWp) within the half-moon of that year. Within the long term, we are working towards achieving a replacement solar target of a minimum of 2 gigawatt-peak (GWp) by 2030, and an energy storage deployment target of 200MW beyond 2025.
Singapore is restricted in terms of cost-effective and reliable renewable energy sources. Solar photovoltaic is the only renewable energy source with the potential to create an effect on the energy grid. The Singaporean government has committed to raising the installed capacity of grid-connected solar power from 71 megawatts (MW) within the first part of 2016 to 350 MW by 2020. Singapore utility company Pacific Light Energy (PLE) created a partnership with a solar manufacturing complex to supply hybrid electricity, which may be a combination of solar power and fossil fuel sources.
2. Fossil Fuel
Today, about 95% of Singapore\’s electricity generates using fossil fuel, the cleanest kind of fuel. Fossil fuel will still be a dominant fuel for Singapore within the near future as we rescale our other switches. EMA has taken steps to assist our power generation companies (gencos) improve the efficiency of their power plants. For example, the launch event of the Genco Energy Efficiency Grant Call encourages gencos to deploy equipment or technologies to be more energy-efficient and competitive.
Singapore’s government has promoted the utilization of fossil fuels over the past several years. Singapore’s fossil fuel consumption increased from 230 billion cubic feet (Bcf) in 2005 to 400 Bcf in 2015, per BP Statistical Review of World Energy. Over the identical period, the share of fossil fuel in Singapore’s electricity generation fuel mix increased significantly from 74% to 95% as many gas-fired generators have replaced the utilization of oil-fired generators.
3. Petroleum and other liquids
Singapore is the world’s largest bunkering port. The country consumed nearly 830,000 b/d of heating oil in 2015, an enormous majority that serves the country’s bunker fuel demand. In 2015, Singapore ranked third worldwide for exports of refined oil products; with quite 1/2 of its exports visiting Malaysia, Indonesia, and China. Singapore Petroleum Company (SPC), the country’s biggest national energy firm, is involved in downstream activities, like distribution and marketing. And it co-owns one in every of the biggest refineries within the country both the petrochemical and refining assets.
The country contains a total crude refining capacity of about 1.4 million barrels per day (b/d) at three refineries; in keeping with FACTS Global Energy. In 2015, Singapore imported approximately 1 million b/d of petroleum with the overwhelming majority sent from the center East and geographical region; consistent with the Singapore government. Imported crude is employed mostly within the petrochemicals and refining sector.
Singapore is targeting to become an LNG trading hub and creates pricing for LNG. Singapore’s only LNG regasification terminal has facilities with the flexibility to transfer LNG from ocean liners to smaller vessels; which might access more regional terminals. The place has many places for reloading and storage capabilities, so LNG stored temporarily before being shipped to the final destination. Nevertheless, the small infrastructure of Singapore in comparison to other Asia trading LNG countries set forth challenges. Singapore is one of the important LNG trading hubs.
The government intends to rely exclusively on liquefied fossil fuel (LNG) imports by 2024; following the expiration of several gas pipeline import contracts. The terminal has the potential for a capacity of 730 Bcf with the employment of as many as seven tanks. Singapore has shown interest in adding two floating storage and regasification units (FSRU) by inviting tenders from consultants to hold out feasibility studies at potential sites. Singapore is additionally looking to produce LNG bunker fuel to vessels by early 2017. The Maritime and Port Authority (MPA) of Singapore is funding the development of six LNG-fueled vessels. Also, the MPA is attempting to form national and international standards and procedures for LNG.
5. Emerging Low-Carbon Alternatives
We will also consider emerging low-carbon solutions (e.g. carbon capture, utilization and storage technologies, hydrogen) that have the potential to assist reduce Singapore\’s carbon footprint. On the demand side, more efforts must be put forward to boost our energy efficiency altogether sectors. It is going to also empower our households to higher manage their electricity consumption by providing them with more information.
Power Generation and Energy Demand in Singapore
Power consumption in Singapore is growing. In the year, total electric power consumption is 4088 kWh per capita; while it doubled in 2012 with 8404 kWh per capita. Though energy demand in Singapore makes the projection to still grow at a rate of two.5% every year; energy consumption will drop with the employment of energy-efficient measures.
As per sector data, there was a complete of 44,642 kWh of power consumption within the country in 2012, as follows:
Industry – 40% by companies
Commerce and Repair – 38% for businesses
Household – 16% for domestic usage
Transport – 6% usage by personal and public vehicles
Catering to approximate 80% of Singapore’s power requirements are 3 prominent companies; and their respective gross weight in their provided amounts:
Power Seraya – It provides a gross weight of 3.1 GW or 30% towards the country’s energy needs through its multi-equipped platforms.
Tuas Power – It gives 2.7 GW that contributes to about 25% of Singapore’s total power supply providing energy solutions, multi-utilities, and environmental services.
Senoko Power – This power gives 2.6 GW via 9 operational units with a combined cycle of gas as its primary fuel and fossil oil as its secondary fuel.
As forecasted, the energy demand within the country will still grow at a rate of two.5% every year. However, energy consumption is projected to be 80 TWh annually rather than 110 TWh by 2050, with the employment of energy-efficient measures.