On 9 March 2022, Mr Tharman Shanmugaratnam, Senior Minister and Chairman, Monetary Authority of Singapore talked about Singapore’s position in the Perfect Long Storm. The perfect long storm is a combination of the Ukraine Crisis, a risk of Stagflation, climate crisis, pandemic insecurity and a global food crisis. In today’s article, I will focus on the 4 ways this long storm will affect us. Energy The Ukraine Crisis has set alarm bells ringing in Europe as they are buying energy from Russia (their biggest supplier). Because of supply issues, wholesale gas prices are up over 300% now. Let’s take a look at how Singapore is doing. Singapore gets 95% of energy from natural gases. It is piped from Malaysia, Indonesia and our liquefied natural gas (LNG) terminal from Jurong Island. LNG imports from Australia and United States account for 70% of total LNG import into Singapore. In 2020, the terminal supplied between 25% and 30% of the country’s natural gas demand for power generation....