New Market Report: Singapore Power Report 2014

From: Fast Market Research, Inc.
Published: Mon Aug 11 2014

While other thermal sources - mainly oil - play a role, mo st of Singapore's electricity is generated from natural ga s. From this perspective it should be noted that the country plan to fuel additional capacity with LNG. Similarly, Singapore is one of the leader in renewable energy in the region. Yet f eedstock constraints weigh on the overall development of renewable capacity. G iven the demands of Singapore's energy-intensive industry sector and the existing project pipeline , BMI thus believes that the country will continue to rely upon thermal sources of energy over the forecast period, while it will go some way to minimising the risks associated with energy imports - particularly gas imports.

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Singapore is a reasonably attractive market, with customers concentrated in a densely populated area that is well served by existing infrastructure. In addition, Singapore's manufacturing sector is energy-intensive, boosting demand. That said, its power market overall size remains modest when compared to the majority of its regional peers. BMI anticipates that Singapore's power generation will see an average 3.14% annual increase to 63.81TWh between 2014 and 2023, with conventional thermal sources expected to remain the dominant fuel for electricity generation over the period.

As such, we expect gas-fired power generation to climb 3.7% a year between 2014 and 2018, and 3.97% between 2018and 2023.This will be boosted by the opening of Singapore's first liquefied natural gas (LNG) power plant - which commenced operation on in June 2014 - and the expansion f its LGN terminal. Coal-fired power generation plays a small but growing role, while oil's importance will decline over the forecast period as oil sites are converted to gas facilities - such as at Senoko's Steam Plant Stage II.

In light of this, key trends and developments observed in Singapore's power sector include:

* The first power plant in Singapore to be...

The Singapore Power Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering electricity generation (coal, gas, oil, nuclear, hydro and non-hydro renewables), electricity consumption, trade, transmission and distribution losses and electricity generating capacity.

The Singapore Power Report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing national and multinational operators by sales, market share, investments, projects, partners and expansion strategies.

Key Benefits

* Use BMI's independent industry forecasts for Singapore to test other views - a key input for successful budgeting and strategic planning in the power market.

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