More than 400 attendees from 200 organisations worldwide participated in the SIEW 2020 Global Launch webinar on 4 May, which unveiled the theme for the 13th Singapore International Energy Week — “Creating Our Low Carbon Energy Future Together”.
Announcing the new theme for SIEW 2020, Mr Ngiam Shih Chun, Chief Executive of the Energy Market Authority of Singapore, highlighted that the ongoing COVID-19 pandemic can be an opportunity for countries to accelerate their transition to a more secure and sustainable energy future.
During the webinar, guest speakers Mr Neil Atkinson, Head of Oil Industry and Markets Division, International Energy Agency (IEA) and Mr Tan Cheng Guan, Head of Renewables & Environment, Sembcorp Industries joined Ms Goh Swee Chen, President of the Global Compact Network Singapore to discuss key energy challenges amid the evolving global market conditions.
Key highlights from the webinar include:
- Oil demand and supply outlook: In discussing Asia’s energy outlook, The IEA’s Mr Atkinson delved into the prospects for oil demand recovery in the second half of 2020. “For 2020, oil demand is likely to fall by just over 9 mb/d versus the 2019 levels… most of the growth in oil demand that we have seen in the 2010s are eliminated,” he cautioned.
- Role of renewables in a low carbon energy future: Various speakers provided insights on how the global energy community can drive the energy transition. Mr Tan shared the four key strategies for Sembcorp Industries to realise its sustainability goals, including lowering the company’s carbon footprint and leveraging technology to improve renewable asset performance.
- Continued investments in clean energy are key: The consensus among the speakers during the discussion was that despite the impact of COVID-19, it remains critical for companies to continue putting investments into renewables and maintain the momentum in the move towards lower carbon energy.
Interested in more related content? Explore the SIEW Energy Insights Webinar Series here.