Singapore's new national gas aggregator has a critical mission: to safeguard energy security today while enabling a stable, affordable transition to a low-carbon future. With the launch of Singapore GasCo, MoneyFM 89.3's Lynlee Foo speaks with its CEO, Mr Alan Heng, about managing price volatility and strengthening long-term resilience. Mr Heng also discusses how Singapore GasCo is coordinating more closely across the energy ecosystem to support Singapore's transition goals.
Show Notes:
In this episode, we discuss…
- Why Singapore established a central gas aggregator, and how Singapore GasCo is reshaping national procurement
- How centralisation enables longer-term planning, risk management, and system-wide coordination
- What centralisation means for market flexibility, competition, and innovation
- The evolving role of natural gas as a foundation fuel in Singapore's transition
- How Singapore GasCo is building talent and partnerships to support a future-ready energy system
Key takeaways
01:21 | Why Singapore GasCo was created Mr Heng explains how market shocks and rising volatility from 2022-2023 made clear the need for a national gas aggregator to safeguard Singapore's energy security. Establishing Singapore GasCo secures a stable supply and competitive pricing over the long term. |
02:22 | Planning for the long term Unlike individual generation companies, Singapore GasCo can commit up to 15-year gas contracts. By absorbing these risks, it enables Singapore to plan with greater certainty and build a more resilient system overall. |
03:14 | Coordinating the market, not controlling it Mr Heng stressed that Singapore GasCo does not reduce competition but enhances it by aggregating national demand to engage suppliers more effectively. This secures better terms, lowers costs, and strengthens the reliability of Singapore's energy supply. |
06:01 | Stability as a national mandate Singapore GasCo acts as a stabilising force by ensuring Singapore is “adequately contracted” for natural gas at all times. By managing a portfolio of reliable suppliers and applying clear price indexation, Singapore GasCo can guard against supply disruptions that drive up electricity prices. These measures help keep costs stable over the long term. |
07:24 | Natural gas as the foundation fuel Even as renewables and regional imports grow, natural gas remains the always-on base layer Singapore depends on. It underpins system reliability when intermittent sources such as solar and wind are unavailable, or imported electricity does not show up. |
09:08 | A regional model in the making Mr Heng sees opportunities for Singapore GasCo to collaborate with ASEAN neighbours facing similar transition challenges. Joint contracting and cooperative arrangements can strengthen regional resilience and support the shift to a cleaner future. |
12:08 | Investing in people, not pipelines Singapore GasCo isn't about infrastructure, but about capabilities. Mr Heng emphasises building a values-driven team and continuing to invest in people. He also highlights the importance of cultivating long-term supplier relationships to ensure trust and responsiveness in times of need. |
About our guest Mr Alan Heng has been the Chief Executive Officer (CEO) of Singapore GasCo since May 2025. He leads the national centralised gas procurement entity. Singapore GasCo plays a critical role in securing a stable and reliable natural gas supply to support Singapore's energy needs and ensure a resilient energy system. Prior to this, he served as Group CEO at Pavilion Energy since its inception in 2013. He was instrumental in establishing Pavilion Energy's global LNG and gas business. Here, he spearheaded the development of the Singapore Hub and established a market-leading downstream gas business. He also pioneered LNG bunkering and the regional small-scale LNG business. Mr Heng is currently a Director of Gas Supply Pte Ltd (GSPL), which imports piped natural gas into Singapore. He had also previously served as its CEO. A seasoned professional with decades of experience in the energy industry, Mr Heng started his career as an Operations Engineer at Mobil Oil Singapore. In his 23-year tenure with ExxonMobil, he held senior roles. These included Regional Executive (Pacific Islands), Chairman & Managing Director (Mobil Oil New Zealand), Chairman (Mobil Oil New Guinea), and General Manager (Taiwan). His leadership experience spans across supply, planning, chemicals, operations, and marketing. He has also worked in Taiwan, Oceania, and the US. A Singaporean, Mr Heng holds a Bachelor of Mechanical Engineering (Hons) and a Master of Business Administration from the National University of Singapore. He is also a Fellow of the Singapore Institute of Arbitrators and a Senior Accredited Director of the Singapore Institute of Directors. |
Additional Resources
- Mr Alan Heng's bio
- Establishment of Singapore GasCo
- Singapore GasCo website
- Centralising Gas Procurement for Singapore's Power Sector
- About 95 percent of Singapore's electricity is generated using natural gas
You can find the transcript of this episode here.
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