Singapore will grow petrochemical sectors sustainably

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The energy and chemicals industry will continue to play an important role in the future economic growth in Singapore, said Prime Minister Lee Hsien Loong at a ceremony to honour petroleum company Royal Dutch Shell for its contributions to the Singapore economy on Thursday.
PM Lee: Singapore will grow petrochemical sectors sustainably

The energy and chemicals industry will continue to play an important role in the future economic growth in Singapore, said Prime Minister Lee Hsien Loong at a ceremony to honour petroleum company Royal Dutch Shell for its contributions to the Singapore economy on Thursday.

Mr Lee said that with Singapore’s developed petrochemical and specialty chemical ecosystem, prospects for the sector are good. Shell Oil is a pioneer investor in the country, setting up Singapore’s first oil storage installation in 1891 and first oil refinery in 1961.

The energy and chemicals industry provides good jobs and career pathways for Singaporeans, noting that it is a resource-intensive sector; plans were revealed for the government to ensure a supply of land for further oil related development.

He also asked the sector to support Singapore’s environmental sustainability efforts by reducing their emissions. The Government will continue to work with firms to develop the industry sustainably, and make it worthwhile for companies to operate in Singapore for the long term.