A mix of both demand and supply factors have led to the surge in global gas prices. Demand has increased due to extreme weather patterns such as an unusually cold and prolonged winter in the northern hemisphere, and heatwaves and droughts during summer. Furthermore, a rebound from the COVID-19 pandemic has also ramped up demand from Asian economies. On the other hand, supply has been constrained due to a series of unplanned outages and maintenance of gas infrastructure which had been delayed due to the pandemic last year. This has led to the production of Liquefied Natural Gas (LNG) to be lower than expected.  Today, imported natural gas is used to produce around 95% of Singapore's electricity. The global energy shortage and higher gas prices around the world will affect our domestic energy market. Nevertheless, we diversify our import sources to help ensure energy security and reliability. For example, we import natural gas from Indonesia and Malaysia via sub-sea pipelines and LNG from around the world via the SLNG Terminal for power generation. While fluctuations in spot natural gas prices generally do not feed immediately into electricity prices, sustained high spot prices will lead to higher electricity prices.