Channel NewsAsia: S’pore can still be energy hub despite growing competition

Channel NewsAsia recently reported Mr Lee Kwan Yew as saying that Singapore will remain an energy hub due to its efficiency, and what it has always offered – sound infrastructure of security, stability, safety and predictability.

S’pore can still be energy hub despite growing competition

SINGAPORE: Former Minister Mentor Lee Kuan Yew has said Singapore can continue to stand out as an energy hub despite growing competition because of its efficiency and stability.

He was speaking at a charity dinner on Sunday organised by Shell to mark its 120th anniversary.

The dinner was attended mainly by people in the energy industry.

And one of the themes of the dialogue was the impact of the increasing world population on energy, food and water security.

Mr Lee said the growing populations in India, China and the rest of the region will affect the South East Asian economy.

And the problems of global warming and rising population will have a detrimental effect on the living environment, when those from underdeveloped countries move to developed places.

But Mr Lee said Singapore maintains a policy of picking and choosing its immigrants, noting that its problem of low fertility rates was one with no easy solutions.

Asked if Singapore will be affected by the establishment of a petrochemical hub at Malaysia’s Johor Iskandar region, Mr Lee said it is an issue of which country is more efficient.

He added that Singapore was able to attract Shell to set up a refinery on Pulau Bukom in 1961 because of the country’s sound infrastructure.

“We had no oil, but what we provided Shell with was security, stability, safety and predictability,” said Mr Lee.

Image taken from Gerard Stolk en route


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