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KPMG’s Global Energy Institute for the Asia-Pacific region was officially launched at the inaugural KPMG Global Energy Conference– Asia Pacific in Singapore today. The conference brought together regional business leaders in the energy sector, along with members of government and academia to deliver insights on emerging energy trends, challenges and strategies in the sector.
Close to 300 energy industry players attended the event held at The Ritz Carlton, Millenia Singapore.
Based in Singapore for the Asia-Pacific region, the KPMG Global Energy Institute is the first international foray of the original institute in the United States of America. The institute serves as a platform to facilitate knowledge-sharing and the flow of industry knowledge both into and out of the Asia-Pacific region for energy sector executives.
Officiating at the launch was Mr S Iswaran, Minister in Prime Minister's Office and Second Minister for Home Affairs and Trade & Industry, Mr Michael J Andrew, Global Chairman, KPMG International and Mr Tham Sai Choy, Managing Partner, KPMG in Singapore.
The keynote address was delivered by Mr S Iswaranwho discussed Singapore’s role in the regional energy value chain and strategies to maintain our position as a regional energy hub.
New knowledge-sharing platform for energy specialists
Said Mr Pek Hak Bin, who heads the Energy and Natural Resources practice at KPMG in Singapore: “The unprecedented growth in energy demand and the resulting push for alternative energy initiatives in the ASPAC region present unique opportunities.
“The institute will serve as a knowledge-sharing platform, so that KPMG’s strong pool of energy specialists can reach out to the industry”, he said. “Our energy specialists have expertise in different areas, and the new institute will underpin the global connectivity and knowledge transfer to support the Asia Pacific region.”
Mr Kelvin Wong, Executive Director, Professional Services at the Singapore Economic Development Board saw the launch of the new institute as “a strong validation of Singapore’s status as the region’s premier energy hub, leveraging our strengths in refining, trading and logistics.”
“Firms like KPMG can centralise their Asia-Pacific knowledge resources in Singapore, and leverage the base of sophisticated lead demand here to develop new knowledge and consulting solutions, and serve their growing base of clients throughout Asia-Pacific,” he said.
Mr Pek also shared that the institute has already started conducting workshops, surveys and interviews with key energy stakeholders from the oil and gas industry in Singapore. The research will be collated into a report summarising opportunities for the ongoing development of Singapore’s oil and gas sector. It will be published later this year.
Sharing some preliminary findings, he said: “Oil and gas demand within the ASPAC region will continue to rise and Singapore must continue to play a significant role in growing the industry. While Singapore has positioned itself well, there is still room to be even better.”
For example, Singapore could consider include developing a gas pricing mechanism, he said.
He added: “Opportunities could also be developed for Singaporean graduates and undergraduates to enroll into petroleum courses which empower them to enter careers in oil and gas.
“We have seen several examples of career and learning opportunities being created in the market to support the oil industry’s growth.”
To register for the Global Energy Institute.