Singapore, Japan sign framework to boost collaboration in energy sector
Under the framework, both countries will strengthen collaboration in areas such as cross-border electricity imports, civil nuclear energy and liquefied natural gas, among others.
by Koh Wan Ting · CNA · JoinRead a summary of this article on FAST.
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TOKYO: Singapore and Japan will enhance collaboration in the energy sector under a newly signed cooperation framework, aimed at helping both countries work towards their net-zero goals.
The Energy, Sustainability and Climate Change Cooperation Framework was signed on Sunday (Mar 15) by Singapore's Minister-in-charge of Energy and Science and Technology Tan See Leng and Japan's Minister of Economy, Trade and Industry Ryosei Akazawa.
Under the framework, both sides will strengthen collaboration in areas such as cross-border electricity imports, low-carbon hydrogen and ammonia, carbon capture, utilisation and storage, civil nuclear energy, liquefied natural gas, advanced grid system enablers and offshore wind, the Ministry of Trade and Industry (MTI) said in a press release.
These collaborations may take the form of policy exchanges, business facilitation, facilitation of financial cooperation, as well as the harmonisation and mutual recognition of standards, regulations and certification.
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The two countries will also encourage industry players and financial institutions to support the development of low-carbon energy pathways, and collaborate and invest in such projects.
Singapore and Japan have been close partners in the areas of energy transition, decarbonisation, sustainability and climate change, said MTI.
Singapore companies such as offshore and marine firm Seatrium and energy and urban solutions provider Sembcorp Industries are involved in energy projects in Japan.
The new framework is expected to help Singapore and Japan advance their net-zero goals and reduce emissions in the hard-to-abate industries and the power sector, MTI said.
In his opening remarks at the signing of the framework, Dr Tan said: "Both Singapore and Japan have extensive economic relationships. In 2024, both Japan and Singapore were each other's fourth-largest source of foreign direct investments
"Singapore hosts over 5,300 Japanese companies, many of which use Singapore as the Asia-Pacific headquarters, as well as a base for innovation, talent and leadership development."
He said many Singapore companies remain upbeat and optimistic about the Japanese market.
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