LNG Journal editor
Pavilion Energy, the Singapore LNG and natural gas market participant, has completed the transaction to acquire portfolio of LNG and gas assets of Spanish utility Iberdrola as it also launches European operations.
From its new European headquarters in Madrid, Pavilion said it had formally commenced 2020 LNG trading operations with supplies pointing at the UK and Spain.
Pavilion, a unit a Singapore wealth fund Temasek, has been developing its LNG portfolio for several years, including LNG ships in cooperation with BW Gas.
The city-state company noted that as of January 1, José Simón, formerly the Head of Global Gas at Iberdrola, is Managing Director of Pavilion Energy for Europe.
“Simón will oversee the organisation’s European gas trading and global LNG portfolio management and origination business divisions,” added Pavilion.
At the same time Pavilion has named Alan Heng as Managing Director for Asia, in addition to his current role as Head of the Energy Sales and Market Development division.
Pavilion said both Managing Directors are charged with establishing operations in their corresponding regions and strengthen the organisation’s global processes.
“We are delighted to celebrate this milestone that positions Pavilion Energy as a global energy business,” said Frédéric H. Barnaud, Group Chief Executive of Pavilion.
“We warmly welcome José and our new joiners in Madrid,” added Barnaud.
“We are pleased to have achieved such a seamless transition in close partnership with Iberdrola and with the great support of our many stakeholders,” stated the CEO.
The Pavilion move into Europe comes as Singapore’s Energy Market Authority is advancing with plans for a second regasification and storage terminal as it aims to confirm its position as an Asian LNG hub.