THE International Energy Agency (IEA) is opening in Singapore its first office outside of its headquarters in Paris, announced the global energy authority at its 50th Anniversary Ministerial on Tuesday (Feb 13).

The new office, dubbed the IEA Regional Cooperation Centre, is scheduled to commence operations in the second half of this year.

It will serve as a hub for the IEA’s activities and engagements in the region and beyond, providing policy guidance, technical assistance, as well as training and capacity building, said Singapore’s Ministry of Trade and Industry.

The IEA was established in 1974 initially to coordinate response measures to oil supply emergencies, and has since expanded its services to offer analysis, data, policy recommendations and solutions to help countries achieve secure and sustainable energy.

Singapore joined the IEA as an Association Country in 2016.

Priority areas for the new centre include the scaling up of the deployment of renewables and other clean energy technologies, increasing cross-border power trading and improving access to finance for clean energy investments.

A NEWSLETTER FOR YOU

Friday, 8.30 am

Asean Business

Business insights centering on South-east Asia's fast-growing economies.

Sign Up

Second Minister for Trade and Industry Tan See Leng noted that the hub will be the first energy-focused international organisation in Singapore and a “strategic asset” for the IEA in the Asia-Pacific region.

“It will energise the region’s decarbonisation journey, while continuing to provide advice on energy security and resilience,” he said.

IEA executive director Fatih Birol said: “This new office will allow us to significantly increase the IEA’s engagement with South-east Asia and beyond, which is one of the most dynamic and fastest-growing regions in the world and will be critical to the energy transition.”