Excellencies,
United States Ambassador to Singapore H.E. Jonathan Kaplan,
Distinguished Guests,
Ladies and Gentlemen.
1. A very good morning to all. Today, we mark the inaugural Singapore–United States Forum on Scaling the Hydrogen Economies in Asia and I am honoured to give this opening address.
2. Most of you are already familiar with SIEW. The US Departments of Commerce, Energy and State have actively participated in the event over the years, as they support the region’s energy transition journey. Many US companies also maintain an active presence in our energy sector.
3. Singapore and the United States enjoy a robust relationship built on shared values and mutual interests. This year, we celebrate the 20th anniversary of the US-Singapore Free Trade Agreement (USSFTA). It was the first FTA that the US signed with a country in Asia, 20 years ago.
4. We have continued to further our collaboration over the years, including in the energy sector. During Vice President Harris’ first visit to Southeast Asia in 2021, Singapore and the United States signed the Partnership for Growth and Innovation, aimed at enhancing collaboration between Singapore and American companies by bolstering trade and investment in areas such as clean energy and environmental technologies.
5. Our partnership deepened further when Singapore and the United States embarked on a Joint Feasibility Study on Regional Energy Connectivity under the Net Zero World Initiative in April 2023. We have since completed the first phase of the study which reviews the existing and potential power interconnections in ASEAN, as well as the socio-economic benefits of regional energy connectivity. As announced by Second Minister for Trade and Industry Tan See Leng yesterday, we will be commencing the second phase of the study. It will focus on the legal and governance frameworks, and the financing arrangements needed to enhance regional energy connectivity. This Feasibility Study represents an important milestone in advancing regional interconnectivity and facilitating the energy transition.
6. Four months ago, Singapore hosted the first Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in June, during which about USD 6 billion worth of projects were presented to investors. It was graced by Prime Minister Lawrence Wong and US Secretary of Commerce Gina Raimondo.
7. Furthering our collaboration, we have established today’s inaugural forum for government and industry leaders to discuss strategies for accelerating the development of hydrogen as a viable decarbonisation pathway.
Importance of Hydrogen in Achieving Sustainability Goals
8. Hydrogen emits no carbon dioxide when burnt, making it a viable fuel for both power generation and transportation, as well as a feedstock for decarbonising hard-to-abate industries. Globally, many countries are actively pursuing the adoption of low-carbon hydrogen to meet their unique challenges. Similarly, Singapore launched our National Hydrogen Strategy in 2022, committing to advancing the development of low-carbon hydrogen and its derivatives.
9. A key priority of this strategy is to initiate pathfinder projects. As mentioned by Deputy Prime Minister Gan Kim Yong on Monday, the Energy Market Authority and the Maritime and Port Authority of Singapore have made progress on their pathfinder project aimed at developing an end-to-end ammonia supply chain for power generation and bunkering. Two consortia have been shortlisted to conduct pre-FEED studies for the project. If successful, it will unlock the potential of low-carbon ammonia as a low-carbon sustainable fuel.
Hydrogen Financing and Hydrogen Deployment
10. While there is significant potential for low-carbon hydrogen to help us achieve our sustainability goals, the global supply chains and infrastructure for hydrogen remain underdeveloped. We need to test and scale hydrogen technologies and infrastructure to ensure their safe and cost-effective deployment as a fuel of the future.
11. Therefore, strong partnerships between countries, as well as collaboration between the public and private sectors, are essential to support the adoption and deployment of hydrogen. Research and development, demonstration projects, and pilot deployments are crucial for building our collective understanding and progress along the cost curve. It is vital that we share these insights across borders to accelerate the widespread adoption of low-carbon hydrogen.
12. In Singapore, we have intensified our R&D efforts to explore the technologies needed for low-carbon hydrogen supply chains and end-use applications. For example, under the second phase of the Low-Carbon Energy Research initiative, $43 million has been awarded to six projects under the Directed Hydrogen Programme, aimed at building capabilities in Singapore to utilise hydrogen safely and economically.
13. Given that US is one of the global leaders in hydrogen technologies, we look forward to more exchanges to inspire new ideas and innovation.
Concluding Remarks
14. Accelerating the clean energy transition remains a top priority for Singapore. As enduring strategic partners, Singapore and the United States can work closely with the region to achieve our climate ambitions.
15. Today, we are joined by a diverse mix of panellists and moderators from across the value chain and the region – from technology suppliers and generation companies to oil majors and financiers. The discussions on the commercialisation of hydrogen technologies and hydrogen financing are crucial for developing hydrogen supply chains in Asia.
16. I hope that this Forum serves as a meaningful platform for you to share experiences, exchange best practices and forge impactful partnerships. I wish you a constructive time today at the inaugural forum. Thank you.