On Friday (Mar 20), Singapore’s Minister-in-charge of Energy and Science and Technology, Tan See Leng, warned that the escalating conflict in the Middle East could have serious implications for Singapore’s energy security and broader economic resilience.
Speaking after a visit to Singapore LNG Corporation (SLNG), Dr Tan described the situation as “serious, volatile and uncertain,” noting that recent attacks on key energy infrastructure have already disrupted global supply chains. He pointed specifically to strikes on Iran’s Kharg Island oil facilities and Qatar’s Ras Laffan liquefaction plant, which he said had “delivered a major hit to the global oil and gas supply chain.”
Beyond oil and gas, Dr Tan cautioned that other critical resources could also be affected. “Other important resources like fertiliser will be impacted too – which may have knock-on effects on the global economy,” he said, adding that prices have already risen significantly.
Singapore, he stressed, will not be immune. “We, along with the rest of the world, will be negatively affected by this conflict,” he said, warning that in a prolonged crisis scenario, “we cannot rule out the possibility of fuel shortages here.” As such, he urged both businesses and households to “prepare and brace ourselves for more turbulence ahead.”
The Government has already activated contingency plans and is working closely with industry partners, including SLNG, Singapore GasCo, and other gas suppliers, alongside the Energy Market Authority (EMA). Dr Tan expressed appreciation for these efforts, noting that officers are “working tirelessly” to safeguard supplies.
He emphasised that the crisis underscores Singapore’s vulnerability to external shocks. “Events that happen far away can affect us here in Singapore. We cannot take our economic security for granted,” he said.
On support measures, Dr Tan noted that previously announced Budget initiatives to help households and businesses cope with rising utility costs will be rolled out soon. While the Government “stands ready to roll out additional measures,” he added that it is also “prudent to keep some gunpowder dry” in case the situation deteriorates further.
In the meantime, he called on Singaporeans to do their part. “All of us can play a part too in energy conservation to reduce our reliance on imported fossil fuels,” he said.
Dr Tan concluded by expressing hope for a de-escalation, while urging realism: “Let us all hope for a swift cessation of the conflict, but at the same time, mentally prepare ourselves for the long road ahead.”
