LNG

June 9 (LNGJ) - Pavilion Energy of Singapore and the UK major BP, through its trading arm in the Asian city-state, have signed a long-term LNG sale and purchase agreement (SPA) for the supply of around 800,000 tonnes of LNG per year to Singapore for 10 years from 2024. Beyond the supply of LNG to Singapore, both companies will strive to co-develop and implement a greenhouse gas (GHG) quantification and reporting methodology.

   “This agreement further strengthens our relationship with BP as Pavilion Energy advances our strategies for a lower carbon future, beginning with GHG emissions quantification, reduction and offsets for Singapore,” said Frédéric H. Barnaud, Group Chief Executive of Pavilion, a subsidiary of Singaporean wealth fund Temasek.

Pavilion Energy, the subsidiary of Singapore wealth fund Temasek, said its trading unit had signed an agreement with US major Chevron Corp. for the Asian city state to receive LNG shipments for six years with emissions measured along the value chain.

Pavilion Energy, the Singapore LNG and natural gas market participant, has completed the transaction to acquire the portfolio of LNG and gas assets of Spanish utility Iberdrola as it also launches European trading operations.

Pavilion Energy of Singapore and the fuels subsidiary of French major Total have signed a 10-year, fully-termed agreement to jointly develop an LNG bunkering supply chain in the Port of Singapore.