Asia's Energy Crisis Is Pushing Singapore Toward Nuclear
Europe’s Gas Prices Drop 5% On Renewed U.S.-Iran Talks Optimism Haley Zaremba is an energy journalist and researcher with more than a decade of professional experience covering global energy systems, land and natural resources, and… Next year, the United Nations will assess whether Singapore is ready to produce nuclear energy.
The International Atomic Energy Agency will begin its review in 2027 in order to determine whether Singapore can make an “informed decision” on potentially deploying next-gen nuclear power as a part of its energy portfolio in coming years.
The move comes at a time of enhanced international interest in nuclear power as a baseload clean energy alternative, as well as extreme turmoil in Asian energy markets as a result of the war in Iran and the closure of the Strait of Hormuz.
This week, Singapore’s Ministry of Sustainability and the Environment announced in apress releasethat the assessment represents “a key milestone of Singapore’s nuclear capability building journey” but hedges that “Singapore has not made a decision on the adoption or deployment of nuclear energy.” Rather, the city-state wants to keep its options open for greater agility and diversity in future energy development.
“We will continue to monitor global developments and work with international partners to build capabilities in nuclear safety and regulation, as part of efforts to study all potential pathways for decarbonisation,” states the press release.
“Any decision to deploy nuclear energy will be carefully considered against its safety, reliability, affordability, and environmental sustainability in Singapore’s context.” This new interest in nuclear power comes at a time when Asian markets are reeling from skyrocketing oil and gas prices driven by the war in Iran, which has disrupted about a fifth of daily global oil shipments.
This impact is particularly severe for Asia, which buys about85 percentof the crude that typically flows through the Strait of Hormuz.
In Singapore,65 percentof the national energy mix comes from oil and gas, virtually all of which is imported.
This leaves the tiny Southeast Asian nation in a highly vulnerable position.
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As a result, Singapore is scrambling to develop new energy sources.
Nuclear energy may soon be one of these, but it’s just one of many options that the government is currently weighing.
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