Market Overview

Research and Markets: Singapore Oil and Gas Report Q1 2013


Research and Markets ( has announced the addition of the "Singapore Oil and Gas Report Q1 2013" report to their offering.

BMI View: Petrochemicals and refining remain the lifeblood of Singapore, with strong regional demand growth meaning there is potential for capacity expansion - although investment in countries such as China and Vietnam has led to increasingly fierce competition. Growing gas demand means liquefied natural gas (LNG) imports are needed to augment pipeline volumes from Indonesia and Malaysia.

The main trends and developments we highlight in the Singaporean Oil & Gas sector are:

- Singapore's first LNG import terminal, expected to be ready in Q213, will be expanded to ensure it can meet all of the island-state's gas demand, raising the possibility that existing pipeline gas supply contracts with Malaysia and Indonesia may not be renewed.

- Singapore imports all of its natural gas, which is mainly used for power generation and petrochemical production, exclusively via pipelines. In 2011, Singapore consumed an estimated 8.8bn cubic metres (bcm) of gas - a rise of almost 500% since 2000.

- Singapore has been experiencing steady growth in demand for oil, tracking both the local and regional economy. Throughput in Singapore's refining system should rise in line with regional demand. Beyond 2012, annual oil demand growth is likely to average 2.5-3.0% through to 2021.

This implies demand rising from an estimated 896,000 barrels per day (b/d) in 2011 to around 1.2mn b/d in 2021 - all met by imports.

- As demand increases in Asia, the government has stated it will promote long-term growth in refining capacity in order to maintain its position as a leading exporter and regional trading hub.

Furthermore, naphtha demand (for petrochemicals production) and the resumption of regional oil consumption growth point to a rise in refining capacity over the long term.

- Singapore's crude oil import bill is expected to rise from an estimated US$34.7bn in 2011 to US$35.0bn in 2016, before reaching US$38.9bn by 2021. The cost of gas imports in 2012 is estimated at US$5.0bn and is expected to rise to US$8.1bn by 2021.

Companies Mentioned

- Company Profiles

- Singapore Petroleum Company

- Chevron

- ExxonMobil Singapore

- Royal Dutch Shell

- BG Group - Summary

For more information visit

Research and Markets
Laura Wood, Senior Manager
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Gas, Oil

View Comments and Join the Discussion!

Partner Center