IEA sets up regional cooperation centre in Singapore to enhance SE Asia ties

Source: Gutzy Asia

SINGAPORE: The International Energy Agency (IEA) announced its partnership with Singapore to inaugurate an IEA Regional Cooperation Centre within the country.

This centre will collaborate with nations across Southeast Asia and beyond, aiming to bolster energy security and expedite the transition towards clean energy.

The declaration was unveiled during the IEA's 50th Anniversary Ministerial held in Paris on 13 February.

Commencing operations in the latter half of 2024, the Centre will mark the IEA's first office outside of its Paris headquarters.

Serving as a pivotal hub for the agency's activities and engagements in the region and beyond, it will provide policy guidance, technical assistance, and training and capacity building.

With a primary focus on scaling up the deployment of renewables and other clean energy technologies, increasing cross-border power trade, and improving access to finance for clean energy investments, the Centre aims to spearhead the transition towards a more sustainable energy landscape.

Second Minister for Trade and Industry, Dr Tan See Leng, shared the announcement on his Facebook page (14 Feb), highlighting that besides being the IEA's inaugural overseas office, it also represents Singapore's first International Organisation office in the Energy Sector.

Dr Tan emphasized that the IEA Regional Cooperation Centre in Singapore will bolster the partnership between Singapore and the IEA.

He noted their longstanding collaboration in supporting Southeast Asia's energy transition efforts, underscoring the Centre's role in deepening this partnership even further.

"The Centre will be the first energy-focused international organisation in Singapore and will be a strategic asset for the IEA in the Asia Pacific.

It will energise the region's decarbonisation journey, while continuing to provide advice on energy security and resilience," he said at IEA's 50th Anniversary Ministerial.

In his Facebook post, Dr Tan expressed confidence that countries across the Asia Pacific region will reap substantial benefits from the initiatives of the IEA Centre.

He affirmed Singapore's commitment to collaborating closely with the IEA in bolstering the region's sustainable energy transition endeavors and expressed eagerness for the positive impact they can collectively achieve through their partnership.

IEA Executive Director Dr Fatih Birol said, "This new office will allow us to significantly increase the IEA's engagement with Southeast Asia, which is one of the most dynamic and fastest growing regions in the world and will be critical to the energy transition.

Through the Centre, we stand ready to accompany all of the countries in the region as they strive to provide affordable, reliable and modern energy for all their citizens."

EMA's continuing partnership with IEA

The establishment of the Centre signifies another noteworthy achievement in the collaboration between Energy Market Authority (EMA) and the IEA, said Singapore's EMA's Chief Executive Mr Ngiam Shih Chun.

Over several years, EMA and IEA have collaborated extensively to bolster the region's capabilities in crucial energy endeavors.

This partnership has focused on areas such as improving energy efficiency, facilitating infrastructure financing, and fostering cross-border power connections.

These efforts have been channeled through initiatives like the Singapore-IEA Regional Training Hub and the Singapore-IEA Forum held during the annual Singapore International Energy Week.

"The Centre will further strengthen our ability to work with the IEA to support the region's energy transition pathways," he stated further.