Singapore has joined the influential International Energy Agency (IEA) as an association country, upping the city-state's focus on energy security.
A joint statement, released at the opening of Singapore's International Energy Week (SIEW) conference, noted that the city-state had become an energy hub for Southeast Asia, which was expected to see energy demand rise by 80 percent by 2040 amid strong population and economic growth.
"This initiative will help build a more inclusive global energy architecture and is especially important as Asia grows in importance in the global economy and energy landscape," S. Iswaran, Singapore's trade and industry minister, said in the statement.
The IEA is an autonomous group that was set up in 1974 to help countries co-ordinate their response to major disruptions in oil supply. It also provides data and forecasts, such as on oil demand, that can move global markets.
Fatih Birol, executive director of the IEA, told CNBC's "Street Signs" on Monday that much of the tie-up's focus would be on renewable energy.
"We are going to create different programs and activities with Singapore in order to make the decision makers in this region understand the benefits of using energy more efficiently and the opportunities that renewable energies are creating across the world," he said, noting that the cost of renewables had dropped sharply, with solar down 80 percent over the past five years.