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Singapore, Australia to step up efforts to safeguard oil, LNG trade

LaksaNews

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Mr Wong and Mr Albanese said that they would notify and consult each other on any disruptions that would affect energy trade.

"Australia and Singapore will accelerate negotiations on an Arrangement on trade in essential supplies, and will explore options for a future legally-binding commitment involving bilateral arrangements such as consultation and early notification in case of potential disruptions," said Mr Wong and Mr Albanese.

This is consistent with Australia and Singapore's Comprehensive Strategic Partnership 2.0 joint declaration in October 2025, said the two leaders.

Mr Wong said at the time that the partnership's upgrade would boost economic connectivity between the two sides.

The prime ministers noted that their countries share a long-standing and deep relationship “grounded in strategic trust, open markets and rules-based trade”.

Reaffirming the shared principles that underpin the prosperity and security of the people and the region is "essential" at this time, said Mr Wong and Mr Albanese.

“We call on other trading partners to join us in ensuring global energy supply chains are kept open, for the benefit of the security and prosperity of our peoples.”

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