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In 2022, Singapore imported 145.3 Mtoe of energy products, 2.8% lower than the preceding year. This was primarily due to lower imports of Petroleum Products, especially in the form of Fuel Oil (13.4% decrease).
The major share of Singapore’s energy imports continued to be in the form of Petroleum Products (58.1 %).
Natural Gas imports totalled 10.5 Mtoe in 2022, with the bulk comprising Piped Natural Gas (6.4 Mtoe). The amount of Natural Gas imports decreased by 0.8% in 2022. While the amount of Pipeline Natural Gas imported decreased by 13.0%, the amount of Liquefied Natural Gas increased by 27.0%
Energy products exports fell by 4.1%, from 75.8 Mtoe in 2021 to 72.7 Mtoe in 2022. This decrease was due mainly to lower exports of Petroleum Products (71.7 Mtoe) in 2022.
In 2021, there was a net stock draw of 750.6 ktoe of total energy products. Stock draw in 2021 comprised Crude Oil & Natural Gas Liquids (440.7 ktoe) and Petroleum Products (470.3 ktoe). On the other hand, there was a stock build of Natural Gas (160.4 ktoe).
Note: Stock change is the difference between the opening and closing stock levels at a national level on the first and last day of the calendar year, respectively. A net increase in stock change refers to a stock draw as it is an addition to supply. A net decrease in stock change denotes a stock build as supply is withdrawn into inventory. This definition of stock change is in accordance with the International Energy Agency (IEA)'s definition.
Data in this annual publication is accurate as of Sep 2023.