By Ronnie Lim

ELECTRIFICATION of transport here, including cars and buses, possible use of alternatives like solar and nuclear energy, financing of pilot energy initiatives and tapping the available talent here for energy R&D - these were among the many ideas for Singapore from a specially enlisted group of international energy experts.

"It has given us food for thought on how to position Singapore, and to see how we can leverage and think through some of these ideas," S Iswaran, Senior Minister of State for Trade and Industry, said yesterday.

The suggestions - coming amid high energy prices, heightened energy security concerns and greater climate change awareness - emerged from a two-day inaugural meeting of MTI's International Advisory Panel (IAP) on Energy this week.

The IAP was set up to provide insight and perspectives on emerging global energy trends, and to advise on the strategic directions for the energy sector here. This will help prepare and enable Singapore to meet the challenges and also leverage on opportunities that are emerging. Chaired by Mr Iswaran, the panel comprises 13 international experts from various fields, including Claude Mandil, the former executive director of the International Energy Agency; Mukesh Ambani, chairman and managing director of India's Reliance Industries; and Yousef Omair, CEO of Abu Dhabi National Oil Company.

The panel members also had separate discussions with Prime Minister Lee Hsien Loong and Minister Mentor Lee Kuan Yew.

Apart from new suggested initiatives, Mr Iswaran told a press conference that the IAP also validated some of the current strategies of Singapore's inter-ministry Energy Policy Group, saying that the move to import liquefied natural gas was a step in the right direction, as it helps diversify gas sources and provides energy security.

Besides, natural gas, used to generate 80 per cent of Singapore's electricity, is also a clean fuel.

The panel also endorsed Singapore's adoption of energy efficiency in power generation, industry, transport, buildings and households.

But it can still do more, like for example, exploring how to adapt its power grid infrastructure to facilitate innovations - like having smaller generation companies - for more optimal use and supply of energy, suggested John Mogg, chairman of the UK Office of Gas and Electricity Markets.

Another IAP suggestion was that Singapore could develop energy financing for pilot alternative energy projects to help bring these to commercialisation eventually. This way, Singapore could tap into new aspects of the energy paradigm, said Eileen Claussen, president of the Pew Centre on Global Climate Change.

The IAP's inaugural meeting coincided with Singapore Energy Week which kicked off yesterday evening.

Speaking at the welcoming dinner, Trade and Industry Minister Lim Hng Kiang announced the establishment of a new Energy Research and Development Fund by the Energy Market Authority.

The S$25 million fund, to be spent over the next five years, will provide financial support to interested parties, aimed at developing capabilities and knowledge for new energy solutions, he said.

This article was first published in The Straits Times on Nov 4, 2008.

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