Overview
- At a joint press conference in Singapore on Friday, the two prime ministers signed a statement to make “maximum efforts” to meet each other’s energy security needs.
- Both governments ordered ministers to negotiate a legally binding protocol under the Singapore–Australia Free Trade Agreement to protect essential supplies.
- Prime Minister Lawrence Wong said Singapore will not restrict fuel exports to Australia, citing the country’s record of keeping trade open even during COVID.
- Prime Minister Anthony Albanese toured Jurong Island’s refineries and LNG terminal, underscoring a trade link where Singapore supplies about a quarter of Australia’s fuel and Australia provides roughly a third of Singapore’s LNG.
- Reporting noted uncertainty about whether a new protocol could override export controls or commercial limits, and Australia has underwritten emergency cargoes that cover supply into late May as tight markets keep prices high.