Singapore power and LNG ambitions face challenges
Attempt to foster regional hubs held back by scale and lack of competition
Singapore's free market approach has not just ensured its survival as it celebrates 50 years of independence, but has also established it as a global commodity trading powerhouse. To date, this success has been most marked in oil, with traders across Asia looking to Singapore for regional pricing on products from bunker fuel to fuel oil.
But the city-state's need to ensure security of supply, coupled with a belief in the benefits of open markets, has encouraged it to establish itself as a
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