Energy Security, Supply Resilience and Business Support Measures Against Middle East Disruptions and Price Volatility
Ministry of Trade and IndustrySpeakers
Summary
This question concerns energy security and business support measures amid Middle East disruptions, as raised by Mr Saktiandi Supaat, Assoc Prof Kenneth Goh, and Mr Shawn Loh regarding natural gas resilience and fuel stock sufficiency. The Members of Parliament enquired about the role of Singapore GasCo Pte Ltd, contingency plans for electricity generation, petrol price monitoring, and potential support for businesses facing volatile energy costs. In response, Deputy Prime Minister Gan Kim Yong stated that these concerns were addressed in Ministerial Statements delivered on 7 April 2026. These statements were provided by the Deputy Prime Minister, the Acting Minister for Transport and Senior Minister of State for Finance, and the Coordinating Minister for National Security and Minister for Home Affairs. They detailed the impact of the Middle East situation on Singapore and the government's strategic response to maintain supply resilience and price stability across key economic sectors.
Transcript
6 Mr Saktiandi Supaat asked the Deputy Prime Minister and Minister for Trade and Industry (a) whether the establishment of Singapore GasCo Pte Ltd has strengthened Singapore's resilience to potential disruptions in natural gas and liquefied natural gas (LNG) supplies arising from the Middle East conflict; and (b) what contingency arrangements are in place to safeguard electricity generation and price stability should such disruptions persist.
7 Mr Saktiandi Supaat asked the Deputy Prime Minister and Minister for Trade and Industry beyond immediate cost relief measures, whether the Government will consider facilitating pooled procurement, hedging solutions and supply chain diversification to help firms better manage energy price volatility and strengthen resilience to future shocks.
8 Assoc Prof Kenneth Goh asked the Deputy Prime Minister and Minister for Trade and Industry (a) whether the Government has assessed if recent petrol pump price increases in Singapore reflect normal wholesale cost pass-through or has widened retail margins; and (b) what enforcement or supervisory mechanisms are available to address any disproportionate price increases.
9 Assoc Prof Kenneth Goh asked the Deputy Prime Minister and Minister for Trade and Industry (a) whether Singapore's energy resilience framework has been reviewed against current risks arising from the situation at Strait of Hormuz; (b) what factors and prolonged disruption scenarios underpin the Government's assessment of the sufficiency of fuel stock and supply arrangements across key economic sectors; and (c) whether further measures are being considered to address any gaps identified.
10 Mr Shawn Loh asked the Deputy Prime Minister and Minister for Trade and Industry what are the Government's considerations to provide time-limited conditional support for businesses who face unanticipated significant increases in energy costs, while ensuring that the volatile economy continues to reward the most productive, efficient and far-sighted businesses.
Mr Gan Kim Yong: These questions were addressed by the Deputy Prime Minister and Minister for Trade and Industry, the Acting Minister for Transport and Senior Minister of State for Finance and the Coordinating Minister for National Security and Minister for Home Affairs, in their Ministerial Statements on the Impact of the Middle East Situation on Singapore at the Parliamentary Sitting on 7 April 2026. [Please refer to "Impact of the Middle East Situation on Singapore", Official Report, 7 April 2026, Vol 96, Issue 27, Ministerial Statements section.]