Energy Leaders at SIEW Conclude Discussions on Global Energy Transitions

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SINGAPORE, Nov. 11, 2015 /PRNewswire=KYODO JBN/ --

The 8th annual Singapore International Energy Week (SIEW) saw more than 28,000

top energy leaders, representing businesses, governments and international

organisations from 60 countries, sharing insights and perspectives on this

year's theme on "Global Energy Transitions".

In a special message, Ban Ki-moon, Secretary-General of the United Nations said

SIEW's theme "provides the opportunity to reflect on the major volatility in

oil prices and the critical importance of alternative energy options".

Diverse views from energy thought-leaders were shared at SIEW's anchor events

-- the SIEW Opening Keynote Address and Singapore Energy Summit:

"Following the great plunge in oil and gas prices, we are on track for the

largest fall in upstream investment in dollars terms ever in 2015 and there are

real risks of further cuts in 2016. The longer the squeeze on investment goes,

the greater the risks to future adequacy of supply -- there is no room for

complacency on energy security," said Dr. Faith Birol, Executive Director of

the International Energy Agency, as he delivered the SIEW Opening Keynote

Address.

"Asia has strong energy demand, rich resources, and huge market scale and

potential. The energy transformation will further drive technological

innovation, mutual regional energy aid and international energy cooperation,"

said Wang Min, Executive Vice President of the State Grid Corporation of China.

"With the rapid increase in energy demand driven by industrialisation and

urbanisation, Asia provides opportunities in many areas including power

generation. We see a clear role for independent energy players with a strong

track record to help Asia meet its growing demand for power," said Tang Kin

Fei, Group President and CEO of Sembcorp Industries.

"There has been a lot of progress made around storage systems and access to

technology. It would be a game changer if this was shared with the developing

world," said Gireesh B. Pradhan, Chairman and CE of Central Electricity

Regulatory Commission (CERC) India.

"With capital costs reducing by about 10 times, solar energy does not need

government subsidies and can be self-sustainable and compete with fossil

fuels," said Eric Luo, CEO of Shunfeng International Clean Energy.

Commemorating Singapore's Golden Jubilee, the Singapore Energy Story Exhibition

was officially opened by Mr S Iswaran Minister for Trade & Industry (Industry).

Commissioned by the Energy Market Authority, the exhibition provided a glimpse

into Singapore's energy history and past milestones, and plans to ensure a

sustainable energy future. The Opening Ceremony was attended by Singapore's

energy pioneers, the Union of Power & Gas Employees (UPAGE), heads of

generation companies and students.

Adding their voices to SIEW, some 300 youths participated in Youth@SIEW

activities. Students from secondary schools, junior colleges, Institute of

Technical Education (ITEs) and universities took part in a lively Q&A session

with Minister S Iswaran during "In Dialogue with Youth".

SIEW will return on 24 October -- 28 October 2016 at the Marina Bay Sands,

Singapore. Please visit http://www.siew.sg for updates.

About Singapore International Energy Week (SIEW)

In its 8th edition, Singapore International Energy Week is the premier platform

in Asia for energy insights, partnerships and dialogue, which brings together

the world's leading conferences, exhibitions, and roundtables in one week, one

location. SIEW enriches the global energy conversation by convening political,

business, academic and energy industry thought-leaders to define and advance

the world's leading energy challenges, solutions and actions across the energy

spectrum of oil & gas, clean and renewable energy, and energy infrastructure

financing. Please visit www.siew.sg for further information.

SOURCE  Energy Market Authority