Energy sector is a prime target of sophisticated cyber-attacks – panellists
The energy industry is particularly vulnerable to cyber-attacks because it is a favourite target of increasingly sophisticated hackers and the sector has not done enough to shield itself against the rising risks, panellists said on Friday at Singapore International Energy Week 2015...
By Dr Elva Zou
The energy industry is particularly vulnerable to cyber-attacks because it is a favourite target of increasingly sophisticated hackers and the sector has not done enough to shield itself against the rising risks, panellists said on Friday at Singapore International Energy Week 2015.
In the United States, 79% of the 245 incidents reported by asset owners and industry partners in 2014 came from the energy sector, said Martin Lui, deputy director of the Critical Information Infrastructure Division at the Cyber Security Agency of Singapore.
“Modern technologies such as the Internet of Things have vast applications in the energy sector, such as demand response and smart grid, to improve the sector’s efficiency and functionality,” Lui said. “However, this will expose the energy sector to greater cyber-attacks through sensors, data transmission and control systems.”
Another key difficulty is that “cyber threats are constantly evolving”, said Michael Mylrea, manager for cyber security and energy infrastructure at the U.S. Pacific Northwest National Laboratory. “As soon as you come up with a standard, it is already becoming irrelevant.”
Vincent Loy, a partner at PricewaterhouseCoopers, agreed.
“It is more challenging to deal with cyber-attacks today as these activities are more organised, they have more financial support and cyber criminals are very intelligent people,” he said, adding that the energy sector has not done enough to deal with cyber security.
Mylrea said the energy sector is not making proper use of “big data, artificial intelligence, social networks and cyber physical networks to analyze and overcome cyber risks”.
He also saw the need to establish more effective solutions for smart buildings to “smarten” our society and enhance overall cyber security capabilities. This involves continuous development, monitoring and upgrading of the smart energy assets within and beyond the energy sector, he said.
The panellists agreed that information-sharing is the key as cyber threats are agnostic – the same attack can happen to every sector – and the more people know, the better prepared they are.
About Singapore International Energy Week (SIEW)
In its 8th edition, Singapore International Energy Week is the premier platform in Asia for energy insights, partnerships and dialogue, bringing together the world’s leading conferences, exhibitions and roundtables in one week and one location. SIEW enriches the global energy conversation by convening political, business, academic and energy industry thought-leaders to define and advance the world’s energy challenges, solutions and actions across the spectrum of oil and gas, clean and renewable energy, and energy infrastructure financing.
Please visit www.siew.gov.sg for more information.
About the Energy Market Authority
The Energy Market Authority (EMA) is a statutory board under Singapore’s Ministry of Trade and Industry. Our main goals are to ensure a reliable and secure energy supply, promote effective competition in the energy market and develop a dynamic energy sector in Singapore. Through our work, we seek to forge a progressive energy landscape for sustained growth.
Please visit www.ema.gov.sg for more information.