“In the last 10 years, Pavilion Energy has grown from its Singapore beginnings into an international energy business marketing and trading LNG in key markets across Europe and Asia to help meet rising energy demand,” says Juliet Teo, head, portfolio development group and head, Singapore market of Temasek. “We believe Shell is well positioned to grow Pavilion Energy’s business and strengthen its global LNG hub in Singapore.”
Temasek Holdings’ indirect wholly-owned subsidiary, Carne Investments, has agreed to divest 100% of its shares in Pavilion Energy to Shell Eastern Trading, a subsidiary of Shell. No consideration amount was given.
Pavilion Energy is a Singapore-based liquefied natural gas (LNG) company that has operations in Singapore and Europe, marketing and trading LNG in Europe and Asia. The company has a portfolio of around 6.5 million tonnes per year (MTPA) of LNG supply contracts from firms such as Chevron, bp and QatarEnergy.
