LONDON, October 31, 2014 /PRNewswire/ --
Singapore's strategic location, connecting the Pacific and Indian oceans, is both a bottleneck and a huge source of wealth for this natural trade haven. This new Inside Oil & Gas report from EnergyBoardroom, available today for free download, investigates Singapore in the context of its regional location, and looks at the challenges and opportunities it brings, from its position as an LNG hub to the advantages of establishing regional headquarters for Asia Pacific in the country.
It is not just good fortune that continues to draw major oil and gas companies to Singapore: the city-state is actively pursuing policies to secure key players. "Singapore is channeling a lot of effort into building its R&D capabilities, whether through ship design engineering or through our offshore and subsea equipment players. We want to harness the synergies between sectors and translate these technologies to the maritime and offshore industries," says Lim Kok Kiang, executive director, Industry Cluster at the Economic Development Board.
LNG is the major energy source for the future, and Singapore has the physical and financial infrastructure to be a regional powerhouse in this field," adds Paul Cornelius, partner of corporate and international tax at PwC Singapore.
As demand for LNG grows in Southeast Asia, Singapore's significant location only stands to benefit. "Singapore is geographically very well-located at the center of major LNG demand and supply routes and is already a world-class port, trusted financial center and major oil trading hub," says John Ng, CEO of Singapore LNG. "We also have an LNG terminal that is built with the future in mind - with the capability to efficiently unload, store and reload LNG cargo for import and export."
Whilst Singapore is famed for its business environment, its neighbors are definitely seeking to forward their oil and gas industries too. Some see the growth in Singapore's neighbors as a sign of the rise of rivals; this is not necessarily the case. Business interests are intertwined across the region, and Singapore's long developing specializations allow the city to take advantage of the direct commercial opportunities arising, whilst also consolidating its position as a regional financial hub through the development of the Singapore stock exchange, the SGX.
Lim Kok Kiang, executive director, Industry Cluster at the Economic Development Board
Lawrence Wong, Executive Vice President & Head of Listings, SGX
John Ng, CEO, Singapore LNG Corporation
Andy Milnes, CEO, Integrated Supply & Trading, Eastern Hemisphere, BP
Paul Cornelius, partner, corporate and international tax, PwC
Heinrich Jessen, chairman, Jebsen & Jessen SEA
Francis Chang, CEO, RH Petrogas
Nathan Oliver, Regional President Asia Pacific MultiClient - Petroleum Geo-Services
Andrew Coccoli, general manager, Farstad Shipping
Thana Balan P Jaganathan, group executive chairman, Global Oil 57
Paul Kang, senior partner, head of Southeast Asia, Headland Capital Partners
Steven Kantorowicz, vice president petrochemicals, KBC Advanced Technologies
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