Shell Eastern Trading Pte. Ltd., a subsidiary of Shell plc, has reached an agreement to purchase Pavilion Energy Pte. Ltd. from Carne Investments Pte. Ltd., an indirect subsidiary of Temasek.
The acquisition includes Pavilion Energy’s global liquefied natural gas (LNG) trading business, with a contracted supply volume of approximately 6.5 million tonnes annually.
Pavilion Energy, based in Singapore, is involved in LNG trading, shipping and natural gas supply and marketing across Asia and Europe.
Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director, said: “The acquisition of Pavilion Energy will strengthen Shell’s leadership position in LNG, bringing material volumes and additional flexibility into our global portfolio.
“We will acquire Pavilion’s portfolio of LNG offtake and supply contracts, which includes additional access to strategic gas markets in Asia and Europe.
“By integrating these into Shell’s global LNG portfolio, Shell is strongly positioned to deliver value from this transaction while helping to meet the energy security needs of our customers.”
The post Shell snaps up Pavilion Energy appeared first on Energy Live News.
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