Mr Chua Kheng Wee Louis asked the Minister for Trade and Industry (a) whether the Ministry has conducted a recent review of the oil and gas industry’s presence in Singapore; (b) what is the expected impact of a potential exit by a key oil and gas company, such as Shell, on the industry; (c) what are the downstream implications such an exit may have on suppliers and ancillary service providers; and (d) whether the Ministry has any plans to mitigate any impact of such an exit.
Mr Gan Kim Yong: The Energy and Chemicals sector is an important sector which contributes more than S$90 billion to Singapore’s manufacturing output and employs more than 25,000 workers. At the same time, it also creates products for the world.
The Government closely monitors the developments in this sector and regularly reviews the strategy to enhance the sector’s economic contribution in alignment with our strategic priorities, including Singapore’s net-zero target for 2050. We also work closely with key stakeholders in the sector to understand and address the challenges they face.
Ministry of Trade and Industry
3 August 2023
https://sprs.parl.gov.sg/search/#/sprs3topic?reportid=written-answer-na-14106
Office of the Leader of the Opposition 