Shell Eastern Trading has reached an agreement with Carne Investments – an indirect wholly-owned subsidiary of Temasek – to acquire Pavilion Energy.
Pavilion Energy’s portfolio includes a global liquefied natural gas (LNG) trading business with a contracted supply volume comprising about 6.5 million tonnes per annum (mtpa). Neither company disclosed the sale price.
Headquartered in Singapore, the 11-year-old company’s global energy business also encompasses shipping, natural gas supply and marketing activities in Asia and Europe.
Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director, said the purchase will strengthen Shell’s position in LNG, bringing material volumes and additional flexibility into its global portfolio.
... to continue reading you must be subscribed
