Singapore has continued to attract companies to expand their global footprint from the city-state, with major energy and agriculture groups building operations to trade biofuels, carbon offsets and crude.
A key goal is to grow new trade flows for renewable fuels as the global energy transition gathers pace, Low Yen Ling, the minister of state at the trade and industry ministry, said at APPEC by S&P Global Commodity Insights on Monday.
Over 60 companies including Exxon Mobil Corp., Repsol SA, Prax Group Holdings, Archer-Daniels-Midland Co. and Bunge Ltd. are trading biofuels from Singapore, Low told attendees at the conference, according to a transcript of her prepared remarks. Engie SA is also providing renewable energy certificates, carbon offsets and power purchase agreements, she said.
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