Deputy Prime Minister Lawrence Wong said the government is investing an initial amount of $5b for the Future Energy Fund to support the country’s energy transitions. “This will give us the confidence to invest in good time, put us in a better position to move quickly in critical infrastructure and enhance our security in clean energy,” Wong said in his budget speech. Wong noted that Singapore is heavily reliant on natural gas, which is the cleanest form of fossil fuel. Singapore is planning to establish a second liquified natural gas terminal to meet the growing electricity demands. However, this will not support the country’s goal to achieve a net-zero target by 2050. https://sbr.com.sg/energy-offshore/news/singapore-injects-initial-5b-in-future-energy-fund (ICE SINGAPORE)

Fonte notizia: Singapore Business Review, 17 February 2024