French energy giant Total officially opened its regional headquarters at Frasers Tower yesterday.
The Cecil Street office, which occupies six floors and houses around 500 employees, will be its base for managing its business across the Asia-Pacific region.
Mr Christian Cabrol, president and chief executive of Total Asia Pacific, said at the opening ceremony: "Total's new regional headquarters is a signal of our continued strong confidence in Singapore as an attractive business destination and talent hub."
The oil and gas firm started operations here in 1982 with oil trading and lubricant products sales and has steadily expanded its presence.
Its lubricants blending plant in Tuas is its largest and most modern in the world.
Total is the second-largest private global liquefied natural gas (LNG) player, with a market share of 10 per cent. It also has stakes in liquefaction plants in the Middle East, Africa, the United States and Australia.
The company equipped its Tuas plant to meet 35 per cent of the site's energy needs through solar power and avoid up to 528,000kg of carbon dioxide emissions a year.
Singapore is also a hub for the company's renewable energy business. Total Solar DG South-east Asia provides solutions for commercial and industrial customers.
SIGNAL OF STRONG CONFIDENCE
Total's new regional headquarters is a signal of our continued strong confidence in Singapore as an attractive business destination and talent hub.
MR CHRISTIAN CABROL, president and chief executive of Total Asia Pacific.
Senior Minister and Coordinating Minister for National Security Teo Chee Hean noted at yesterday's ceremony: "This opening is a testament to Total's significant growth in Singapore and its commitment to our partnership. I hope that your significant presence in Singapore will open more doors to explore further avenues for growth in business, innovation and research and development to build an innovative and sustainable energy sector, and contribute new solutions to global climate action together."
Mr Teo also noted that Total's recent ventures here include a partnership with Singapore's Pavilion Energy to build a LNG bunkering ecosystem and with the Adani Group to supply and market LNG in India.
Singapore recently announced a target to deploy 2 gigawatt-peak of solar energy by 2030, which is about 10 per cent of peak daily electricity demand.
Mr Teo added: "We will also support energy companies that are moving into renewables by streamlining our regulations and promoting innovation and research and development."