SINGAPORE is one of the world’s largest trading hubs for liquefied natural gas (LNG). We traded about US$240 billion worth of LNG in 2022, equivalent to about 50 per cent of Singapore’s gross domestic product. This is impressive, considering that Singapore does not produce any LNG. We are also a major trader of other energy products such as oil and natural gas.

Due to our key role in the global energy trade, Gastech 2023, the world’s largest exhibition and conference for the natural gas and LNG industry, will be hosted in Singapore this week. It will gather more than 300 ministers and business leaders, as well as over 40,000 attendees from more than 100 countries.

How did Singapore become a global energy powerhouse and trading hub?