‘Energy nationalism’ in Asean: Businesses face risks, but can’t ignore the opportunities
Geopolitical considerations have long gone hand in hand with regional integration efforts
[SINGAPORE] Singapore’s annual energy forum kicked off on Oct 26 with a note of caution – countries may prioritise their domestic energy needs in a fuel crunch, and “this trend of resource nationalism is particularly concerning”, said Tan See Leng, the Republic’s minister for energy, trade and industry (energy and industry).
He also warned that business risks could go up, and investments in the energy sector might suffer, if contractual agreements are undermined.
The scenario that Dr Tan outlined at the Singapore International Energy Week (SIEW) was not theoretical. His comments came after Indonesia’s decision, just two days prior, to cut gas exports to the city-state.
