File picture of Singapore LNG Terminal. Singapore and Japan have signed a memorandum of cooperation to strengthen collaboration on gas and electricity market regulation. — Picture from www.slng.com.sg/

 SINGAPORE — The Energy Market Authority (EMA) of Singapore and the Electricity and Gas Market Surveillance Commission of Japan (EGC) signed a memorandum of cooperation (MoC) on July 13 to strengthen collaboration in energy market regulation.

The MoC aims to promote cooperation and information exchange on gas and electricity markets. It will also facilitate greater knowledge sharing on energy market surveillance approaches, regulation design, and system stabilisation measures.

Activities under this document include dialogues between the EMA and EGC, technical exchanges, study visits and joint research opportunities.

EMA Chief Executive Puah Kok Keong said as the energy landscape evolves rapidly, it is essential for both sides to keep their regulatory frameworks up to date.

He noted that cooperation with the EGC forms part of the EMA's efforts to ensure the efficient functioning of energy markets and reliable electricity supply.

EGC Secretary General Tatsuya Shinkawa said Japan and Singapore share many common features in their energy sectors and face similar challenges in ensuring reliable energy supply and well-functioning electricity markets.

He expressed his belief that the MoC will help strengthen bilateral cooperation, facilitate the exchange of expertise and enhance consumer protection for the benefit of both countries. — VNA/VNS