International Energy Agency to open first regional office in Singapore
The International Energy Agency can assist the Association of Southeast Asian Nations (ASEAN) with its plans for a regional power grid, says one analyst.
A view of the logo of the International Energy Agency in Paris, France, Dec 15, 2023. (File photo: Reuters/Sarah Meyssonnier)
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SINGAPORE: The International Energy Agency (IEA) will open its first regional office in Singapore, which will work with countries in Southeast Asia and beyond to enhance energy security and accelerate clean energy transitions.
The IEA Regional Cooperation Centre will be the agency's first office outside of its Paris headquarters.
It is set to begin operations in the second half of this year, said the Ministry of Trade and Industry (MTI), the Energy Market Authority (EMA) and IEA in a joint media release on Tuesday (Feb 13).
The establishment of the office was announced at the IEA's 50th anniversary ministerial meeting in Paris on Tuesday. It will serve as a hub for IEA's activities and engagements in the region and beyond, providing policy guidance, technical assistance, and training.
"The centre will focus on scaling up the deployment of renewables and other clean energy technologies, increasing cross-border power trade, improving access to finance for clean energy investments," said MTI, EMA and IEA.
The establishment of an IEA Regional Cooperation Centre in Singapore has been in the pipeline in recent years, with Second Minister for Trade and Industry Tan See Leng saying in 2022 and 2023 that the country and the agency have been studying the possibility of setting up such a centre.
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The IEA is an intergovernmental organisation that provides analysis, data, policy recommendations and solutions to help countries in their transition to sustainable energy. Singapore joined the IEA as an association country in 2016.
Dr Tan said: "The IEA Regional Cooperation Centre in Singapore will deepen our partnership with the IEA.
"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."
Chief executive of EMA Ngiam Shih Chun said the centre will further strengthen EMA's ability to work with the IEA to support the region’s energy transition pathways.
"EMA and IEA have worked closely over many years to enhance the region’s capacity on key energy initiatives such as energy efficiency, infrastructure financing and cross-border power interconnections through the Singapore-IEA Regional Training Hub and the Singapore-IEA Forum at the annual Singapore International Energy Week," added Mr Ngiam.
IEA's executive director Fatih Birol noted that the new office will allow it to "significantly increase (its) engagement with Southeast Asia and beyond", adding that the region is "one of the most dynamic and fastest growing regions in the world".
"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," added Dr Birol.
ASEAN POWER GRID
The IEA can assist the Association of Southeast Asian Nations (ASEAN) with its plans for a regional power grid, said Ms Sharon Seah, senior fellow and concurrent coordinator of the ASEAN Studies Centre and the Climate Change in Southeast Asia programme at the ISEAS-Yusof Ishak Institute.
With an energy transition underway in Asia, it is important for the IEA "to be at the table", she said, adding that its presence will help to keep the momentum up and drive discussions.
"An integrated multilateral power grid will not only help the region integrate better economically but also help countries meet their individual climate goals," she said.
Singapore is on track to achieving its target of importing 4 gigawatts of low-carbon electricity by 2035, having granted conditional approvals for imports from Cambodia, Indonesia and Vietnam.
Dr Tan said in October last year that Singapore is studying the possibility of taking in more electricity import projects.
The IEA is a "central pillar of the global energy community", and its presence in Asia will be pivotal in driving clean energy transition in Singapore and across the region, said Dr David Broadstock, senior research fellow and energy transition lead at the National University of Singapore's Sustainable and Green Finance Institute.
Managing director of Energy Strat Asia Tim Rockell said Asia is a "continent of contrasts" and that it is important that the IEA's leadership and analysts "fully understand the critical nuances for the pathways to decarbonisation" in the region.
