Singapore-based Pavillion Energy has signed a 10-year Sales & Purchase Agreement for liquefied natural gas (LNG) with a subsidiary of Russia’s gas major Gazprom, Seah Moon Ming, the company’s chief executive officer, said today in his keynote address at Gastech Singapore 2015.
First deliveries within the new agreement are expected two to three years from now Seah said, without disclosing the volume of LNG to be delivered, or the value of the contract.
This Temasek portfolio company has also signed a Memorandum of Understanding (MOU) with China Huadian Green Energy to supply cargoes of LNG to the company from 2020 onward, as well as an MOU with Japan’s JERA for collaboration in joint LNG procurement and investment, Seah said in his speech.
”Pavilion Energy is currently focused on developing regional demand. We see this as an important step towards building a reliable and robust LNG ecosystem in Singapore, and hopefully for Asia,” Seah said.
Seah also said that the company sees Singapore as well-equipped to host this new and more open way of doing business in the LNG sector.
”The International Energy Agency or IEA has expressed confidence about Singapore’s prospects, and believes Singapore will eventually emerge as Asia’s premier LNG Trading Hub,” Seah said.