Singapore – Aster, a leading provider of chemical and energy solutions in Singapore and Southeast Asia, and Lubrizol, a global specialty chemicals leader, today announce the signing of a Memorandum of Understanding (MoU) to explore a strategic partnership and collaboration opportunities throughout Singapore and the wider region.

This partnership combines Aster’s fully integrated refinery and petrochemical operations with Lubrizol’s innovation-driven capabilities. Together, both companies are committed to advancing diversified energy pathways, developing high-performance lubricants and specialty chemical solutions, and fostering supply resilience that supports Singapore’s continued low-carbon transition.

The MoU establishes a framework for joint studies and initiatives that will drive product innovation and strengthen value chains. By tapping into Aster’s deep operational experience and asset integration, the collaboration will also leverage Jurong Island’s role as a hub to create new growth opportunities for specialty and sustainable chemical development in Asia.

Erwin Ciputra, Group CEO, Aster, said, “We continue to invest in growth and innovation, strengthening strategic resilience across our portfolio to power growth, connect industries and uplift communities. Aster and Lubrizol share a vision to shape the future of specialty chemicals and energy for Asia. With proven expertise and a keen readiness to adopt new technologies, we combine our strengths to support Singapore as a destination for advanced chemical technologies and a catalyst to cultivate a forward-looking workforce for a sustainable industrial future.”

Henry Liu, Asia Pacific Vice President, Lubrizol, said, “Lubrizol and Aster are joining forces by leveraging both global and regional expertise to accelerate innovation within Asia’s dynamic energy and chemicals sector. This MoU represents a strategic move to strengthen supply chain resilience to deliver high-performance, next-generation products. These efforts will support the region’s transition toward a low-carbon and sustainable future and address the evolving lubricant landscape, shaped by technological advancements, tightening environmental regulations, shifting market trends, and increased digitalization.”

Aster and Lubrizol Announce Strategic MOU to Advance Specialty Chemical Solutions in Singapore and the Region