In 2023, the import of natural gas in a gaseous state to Singapore stood at 7.665 billion kilograms. As we forecast into 2024 and beyond, this indicates a steady year-on-year growth. The import value is expected to increase to 7.7108 billion kilograms in 2024, showing a modest rise. This trend continues with slight increments over the subsequent years: 7.7584 in 2025, 7.8051 in 2026, 7.8508 in 2027, and reaching 7.8956 billion kilograms by 2028.
Year-on-year variations:
- 2024: +0.59%
- 2025: +0.61%
- 2026: +0.60%
- 2027: +0.58%
- 2028: +0.57%
Over the last two years, the variation in imports was 0.60% per year, whereas the Compound Annual Growth Rate (CAGR) over the next five years averages at 0.59% per year.
Future trends to watch for include potential shifts in global energy markets, technological advancements in natural gas extraction and delivery, and Singapore’s energy policy changes. Additionally, regional geopolitical events and global economic conditions could further impact natural gas imports.
