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THERE is no “one-size-fits-all” solution to energy transition, and the Singapore International Energy Week (Siew) must remain an “open platform” for participants to share different perspectives, said Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong on Monday (Nov 11) in a written reply to a parliamentary question.

He was responding to Workers’ Party (WP) MP He Ting Ru, who had asked the Ministry of Trade and Industry for its assessment of the remarks made by oil producer Saudi Aramco’s chief executive at the recent 2024 Siew.

Aramco was a key sponsor of the five-day conference, which took place from Oct 21 to 25. Organised by the Singapore Energy Market Authority (EMA), this year’s event focused on how the energy sector can gradually transition to be less carbon-intensive.

During his keynote address, Aramco’s CEO Amin Nasser had raised eyebrows with his comments that replacing conventional fossil fuels with renewables was unrealistic for developing economies, while also describing cleaner energy sources as “half-baked alternatives”.

Instead, he said there should be continued investment in conventional energy sources such as oil and gas for emerging markets.

WP’s He had asked Gan how Nasser’s views would affect the perception of Singapore’s decarbonisation efforts, given that the CEO’s views “run counter” to the Republic’s decarbonisation and energy-transition goals.

She also questioned if the EMA vets headline speeches made at Siew for factual errors and “to ensure they espouse values compatible with Singapore”, given the event’s impact on the Republic’s global reputation.

In response, Gan noted that a wide range of public and private-sector leaders from around the world share their perspectives on the global energy transition at Siew each year.

Speakers are invited to focus their remarks on Siew’s theme for the year, and are responsible for the content of their speeches, he said. The organiser also does not vet their speeches.

“There is no one-size-fits-all solution to the energy transition,” said Gan. “Each country would have to chart its own path to navigate the energy trilemma of security, affordability and sustainability, based on its unique circumstances.”

To remain credible, Siew must remain an “open platform” for participants to share different perspectives, he added.

He had also been asked how much Aramco had paid as the top sponsor of Siew, given its significant presence.

To that, Gan said the ministry was unable to disclose further details of Siew’s sponsorship arrangements due to “commercial confidentiality”. The event was supported by several companies, including Aramco, Siemens Energy, EDP Renewables, ExxonMobil, Sembcorp, DBS Bank, SMBC, and Google.