PUBLISHED ONApril 15, 2026 11:02 AMBYSean LerAs one of the world's largest oil trading hub, a maritime and trading nation, Singapore will do its part to strengthen regional resilience in the face of ongoing energy disruptions due to the Middle East war, said Prime Minister Lawrence Wong.
PM Wong, who is also finance minister, was speaking at the Asia Zero-Emission Community (Azec) Plus Online Summit on Wednesday (April 15).
Established in 2023, the Japan-led Azec aims to accelerate decarbonisation and energy transition in Asia.
The Wednesday meeting was attended by leaders and representatives from 19 countries and international/regional organisations, including Asean neighbours Brunei, Cambodia, Indonesia, Malaysia, Philippines, Thailand, Timor-Leste and Vietnam.
PM Wong noted that Asia is particularly exposed to energy disruptions given the region's heavy reliance on imported energy. He assured the initiative's participants that Singapore will do its part towards regional resilience.
"Singapore will do our part to strengthen regional resilience in the face of these disruptions," he said, adding that the maritime nation will continue to uphold the navigations rights and freedoms enshrined in the United Nations Convention on the Law of the Sea, which enables the steady flow of global trade across critical sea lanes.
The prime minister also said that Singapore will continue to facilitate the continued flow of essential goods, and do its best to secure alternative upstream feedstock, so that its refineries can continue to supply fuel products to markets around the world.
Singapore is the world's third-largest oil trading hub and the sixth-largest refinery export hub, with global energy and trading companies having a significant presence.
He also reiterated the need for the region to work together towards energy resilience.
"But as has been mentioned just now, no country can secure its energy needs on its own. Resilience must be built collectively.
"That is why Singapore values the mutual support and assurance from trusted partners — including Australia, Japan, and all our partners in Asean," PM Wong said.
He welcomed the US$10 billion (S$12.7 billion) assistance package announced by Japan to help Asian countries secure energy resources, calling it "timely and practical".
Japan Prime Minister Sanae Takaichi said during the meeting that the support, aimed at preventing knock-on effects on Japan's own supply chains, would be channelled mainly through state-backed financial institutions such as Japan Bank for International Cooperation and Nippon Export and Investment Insurance.
It would be equivalent to as much as 1.2 billion barrels of oil, or about one year's worth of crude oil imports by Asean.
PM Wong also urged the grouping to press on with efforts for energy efficiency and diversification, noting that energy security and decarbonisation "must go hand in hand".
"If we act together, we can develop a stronger energy architecture for our region and build energy systems that are not only cleaner, but also more secure and resilient.
"And Singapore stands ready to work with fellow Azec members and partners to make this a reality," he added.
@asiaone Speaking at the Asia Zero-Emission Community (Azec) Plus Online Summit on Wednesday (April 15), PM Lawrence Wong said Singapore will do its part - as a trading nation, maritime hub, and an oil trading and refinery export hub. #sgnews #Singapore #Asia #Energy #Security ♬ original sound - AsiaOne
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