Singapore is highly exposed to the global energy crisis, relying heavily on imported natural gas for most of its electricity.

Singapore is at the sharp end of the energy crisis. Imported natural gas accounts for an estimated 95 per cent of the city state’s electricity generation. According to Nomura, Singapore is the fourth most vulnerable Asian economy to the energy shock emanating from the war in Iran, based on a set of criteria that includes the share of fossil fuels in energy consumption and the proportion of energy imports from the Gulf. Last month, Singapore’s Foreign Affairs Minister Vivian Balakrishnan said the...