SINGAPORE: ExxonMobil’s latest project in Singapore will not affect the country’s Paris Agreement commitment, said a spokesperson for the National Climate Change Secretariat (NCCS).
The US oil company announced on Apr 2 a multi-billion dollar expansion of its integrated manufacturing complex in Singapore that will help it increase production of cleaner fuels with lower-sulphur content.
The expansion project, which is expected to come online in 2023, will convert fuel oil and other residual crude products into higher-value lube base stocks and distillates, ExxonMobil said then.
In an emailed response to CNA on Friday (Apr 5), NCCS said: “Singapore continues to be on track to achieve its Paris Agreement commitment of 36 per cent reduction in Emissions Intensity from 2005 levels by 2030, and stabilise Greenhouse Gas (GHG) emissions with the aim of peaking around 2030."
It added that the planned investment by ExxonMobil have been accounted for in Singapore’s projections.
“We will continue to closely monitor emissions, including that from ExxonMobil’s latest investment, and ensure that we are able to meet our international climate targets,” NCCS said.
The US oil giant globally produced 122 million CO2-equivalent metric tons in greenhouse gas emissions in 2017, according to information on its website.
It does not have a breakdown for its Singapore operations.
"The project will comply with all applicable regulatory emissions standards," said the company in its emailed response.
ExxonMobil has a considerable presence in Singapore, which is home to its largest refinery and biggest integrated petrochemical plant.
According to NCCS, the US oil company has already pumped in S$25 billion in fixed asset investments and more than 4,000 employees here.