Singapore needs one more refinery

Singapore is trying to attract at least one more world-scale oil refinery investment, even as it develops renewable energy areas like solar, biomass and fuel cells. In the same vein, trading of carbon credits in the country could start soon, although Singapore aims to develop trading of liquefied natural gas, much like what it has achieved with global oil trading. This is a reflection of the Economic Development Board’s (EDB) two-pronged strategy of securing the country’s position as an established oil-and-gas hub, while it tries to develop new energy verticals. (July 5, 2007)