Singapore Boosts Low-Carbon Energy Research Budget

[By: Informa Markets]

SINGAPORE, 15 NOVEMBER 2022 - Ms Low Yen Ling, Minister of State, Ministry of Culture, Community and Youth & Ministry of Trade and Industry opened OSEA (Offshore Southeast Asia)  2022 and welcomed delegates from more than 60 countries, highlighting the importance of investment in research and innovation. In line with Ms Low’s speech, Singapore will invest SGD129m in low-carbon energy research (LCER) in 2022, significant amounts in projects to help import, handle and utilise hydrogen safely and at scale. This investment adds to SGD55m already awarded to LCER projects.

Global investment in the hydrogen sector is set to grow rapidly, and continued innovation will help Singapore’s energy sector maintain competitiveness. Over 1,000 companies work in marine and offshore engineering (M&OE) in Singapore, employing more than 75,000 workers, and generating SGD11.9 billion in total output.
 
The OSEA 2022 exhibition and conference takes place in-person for the first time since 2018. The event can be seen as a “reunion” of the industry, after three challenging years with the disruptions of the Covid-19 pandemic. Singapore M&OE companies have weathered these storms and are well placed to deploy their skills towards growth opportunities in the renewable energy sector and pivot towards sustainability.
 
Collaboration between industry and the research community is a key focus for Singapore’s energy strategy. The country has nurtured a strong network of research institutions, which currently support projects with Singaporean and global businesses. Organisations such as the Technology Centre for Offshore and Marine, and the National Additive Manufacturing Innovation Cluster continue to support thousands of businesses.
 
Keynote speaker, Alban d’Hautefeuille, Managing Director Gas Renewables & Power / Offshore Wind Asia at TotalEnergies, shared the need for the energy industry to tackle the transition and ensure security and affordability. To deliver a just transition will require investments in low carbon power, energy efficiency, as well as production and clean tech R&D.

OSEA 2022 is a chance for the industry to debate the new capabilities that will be necessary to reinvent itself and stay relevant in transitioning global economy.  OSEA 2022 will drive collaboration between research and industry to unlock new solutions for emissions reduction and an accelerated transition to net-zero, conference discussions on digitalisation, electrification and new technologies such as additive manufacturing will explore how the green transition can be facilitated by securing more work from the same electrons and molecules.