Singapore exploring Canada as potential energy source, anticipates further fuel disruptions from Middle East: Vivian Balakrishnan

Foreign Affairs Minister Vivian Balakrishnan of Singapore visited Ottawa, where he described Canada as an energy superpower, boasting both fossil fuel and renewable energy resources. During his trip, Balakrishnan warned of potential energy supply disruptions in Singapore due to the conflict in the Middle East, particularly affecting shipping routes like the Strait of Hormuz. He pointed to the closure of this strait as a major impediment to liquefied natural gas (LNG) exports from Qatar, a significant supplier to Singapore.

Singapore has been coping with these disruptions by diversifying its energy sources, but Balakrishnan emphasized that further disruptions from the Middle East are expected. The minister also discussed Singapore's interest in exploring Canada as a potential source of energy and food. Both countries are examining preliminary ideas for formal arrangements in trade, focusing on essential supplies, artificial intelligence, the digital economy, and digital payments.

During his visit, Balakrishnan and Canadian Foreign Minister Anita Anand signed a joint declaration aiming to establish an economic partnership framework. They hope to finalize this agreement within the next few months, capitalizing on complementary opportunities between Canada and Singapore, particularly for Singaporean companies looking to invest in Canada or take advantage of shared economic strengths.

Balakrishnan noted that Canada is actively seeking to expand its economic presence in both the Atlantic and Pacific regions, which aligns well with Singapore's strategic interests.