From 2013 to 2023, the import of natural gas in gaseous state to Singapore has seen significant fluctuations. Starting at 5.7573 billion USD in 2013, there was a notable decrease until 2016, followed by recovery between 2017 and 2018, and subsequent declines again until 2023 when it stood at 2.4583 billion USD. The year-on-year variation over the last two years was a -4.43% decline in 2022 and a further -4.54% decline in 2023. Analyzing the last 5 years, the compounded annual growth rate (CAGR) averaged at -6.5%. The forecasted period from 2024 to 2028 suggests a CAGR of -4.53%, with a total decline of -20.71% by 2028.
Trends to watch for in the future include potential shifts in global energy policies, advancements in alternative energy sources, and geopolitical developments affecting supply chains. Monitoring technological innovations in natural gas extraction and liquefaction, as well as regional economic growth, will be essential for determining future import values.