Speech by Minister for Energy, Trade and Industry (Energy and Industry) Dr Tan See Leng at Powering Progress Together Forum, Shell’s 135th Anniversary

Distinguished guests,

Ladies and gentlemen,

I. Introduction

1. Good afternoon.

2. It is a pleasure to join you today to celebrate Shell’s 135th anniversary in Singapore. Few companies in Singapore can say that they have been part of Singapore’s story for quite so long.

a. Shell’s relationship with Singapore began in 1891, well before Singapore became the modern economy that we know today.

b. Over the decades, both Singapore and Shell have grown and changed enormously.

3. Today is therefore an opportunity to celebrate 135 years of history, and also reflect on what we can build together in this next chapter.

II. Shell as a pioneer in Singapore’s energy sector

4. Shell has been a pioneer in Singapore’s energy sector from the very beginning.

a. In 1891, Shell established Singapore’s first kerosene storage facility on Pulau Bukom.

b. Seventy years later, in 1961, Shell established Singapore’s first oil refinery here. At this point, we were building up our industrial base and creating jobs and opportunities for our people. Shell was among the early investors that helped support this industrialisation journey.

5. Over time, Shell’s presence in Singapore grew beyond refining.

a. It developed capabilities across trading, shipping, LNG, lubricants, chemicals, new energy solutions and innovation.

b. Today, Shell employs more than 1,200 people in Singapore, the majority of whom are locals.

c. Singapore serves as a regional centre for several of Shell’s businesses, and is one of its three global LNG trading hubs.

d. Half of Shell’s global shipping fleet is also managed through Singapore.

6. Shell’s activities today therefore look very different from those of 1891, just as Singapore itself has changed significantly since then. This ability to evolve alongside Singapore has been a defining feature of our very long term partnership.

III. Supporting Singapore’s broader ecosystem

7. Shell also supports a wider ecosystem of partners and businesses across areas such as mobility, shipping, and airport operations.

a. More than 1,000 employees are supported through Shell’s network of partners in these areas.

b. These relationships give Singapore companies and workers access to the “know-how” to build their capabilities and grow, as well as the all-important “know-who” – the networks, customers and partners that can open doors to new opportunities and markets.

8. I am therefore pleased that Shell is taking another step today to deepen its support for our local enterprise ecosystem with LiveWire Singapore, which Shell is launching in partnership with ACE.SG.

a. The programme will support promising Singapore scale-ups in areas such as AI, smart infrastructure and energy systems, and low-carbon business models, by helping them move from early commercial traction towards sustained growth and expansion.

9. For young companies, having a good idea is only the beginning – the very first step. The harder challenge is often turning that idea into a viable product, finding customers, building credibility, and eventually expanding overseas into new markets. This is where partnerships with established global companies can make a real difference.

a. LiveWire brings together the complementary strengths of Shell and ACE.SG to provide this support.

b. Shell brings its industry expertise, commercial experience and global networks, while ACE.SG brings its deep understanding and connections within Singapore’s startup ecosystem.

10. Together, they can help participating companies tackle the practical challenges that come with scaling a business.

a. Participants will receive tailored business advice and industry mentorship, while connecting with potential customers and commercial partners.

b. They will also be plugged into a wider community of entrepreneurs, allowing founders to learn from their peers and build relationships that can continue beyond the programme.

11. I look forward to seeing this partnership help even more Singapore companies turn promising ideas into successful businesses, scale overseas, and ultimately grow into Singapore champions.

IV. Securing Singapore’s energy needs and navigating the energy transition

12. Shell has also been a longstanding partner in supporting Singapore’s energy security and resilience.

13. Singapore has few energy resources of our own. We therefore depend on international markets to meet our energy needs.

a. Shell’s global LNG portfolio, trading capabilities and supply networks help connect Singapore to diverse international sources of energy.

b. This is particularly important in today’s more uncertain world. Disruptions in the Middle East and Europe have reinforced the importance of maintaining diverse and resilient sources of supply.

14. At the same time, Singapore must prepare for a lower-carbon energy future. As we work towards net-zero emissions by 2050, we will need to develop and scale new energy solutions, while ensuring that our energy supply remains secure, reliable and affordable throughout the transition.

15. There will not be a single pathway to get there.

a. Different sectors will require different technologies and different fuels, many of which are still at different stages of technological and commercial maturity.

b. We therefore need to have an open mind, we also need to keep all of our options open – exploring and testing promising solutions, and scaling them as soon as they become viable.

16. Shell is already working with Singapore across several of these areas.

a. In mobility, the Shell Recharge network has now expanded to provide EV charging at more than half of Shell’s service stations.

b. In the marine sector, Shell has been at the forefront of developing lower-carbon marine fuels in Singapore.

17. Today, we mark another milestone in this journey. Shell and Singapore LNG Corporation have successfully discharged Singapore’s first ISCC EU-certified bio-LNG cargo. Congratulations!

a. This demonstrates the feasibility of establishing an end-to-end bio-LNG supply chain, covering sourcing, certification, logistics, storage and final use.

b. This is particularly significant because bio-LNG can play a meaningful role in decarbonising sectors that rely on natural gas, such as power generation and maritime transportation. The ISCC EU certification further strengthens this by aligning with established international sustainability standards, providing operators with a clear and practical pathway to decarbonise their operations.

c. This is likely to be how much of the energy transition will unfold – through practical steps that allow us to test new solutions and scale what works as technologies and markets mature.

V. Looking forward to the future

18. Over the past 135 years, Shell has evolved alongside Singapore through many different chapters of our development.

19. The next chapter will be no different from what it has been. Of course, perhaps the speed will have to be faster.

20. Singapore will need to strengthen our energy resilience while making progress on decarbonisation. We will need to develop new technologies and capabilities in our companies and in our people. And we will need partners that are prepared to invest, to innovate and to build with us.

21. Shell has been such a partner for 135 years, and I hope it will continue to be one for many more decades to come.

22. I wish Shell every success in the years ahead – to 270 years.

23. Thank you.