Shell Eastern Trading, a subsidiary of the UK oil and gas group Shell, has finalised the acquisition of 100% of the shares in Pavilion Energy, a company headquartered in Singapore. Pavilion Energy operates a global LNG trading business with contracted supply volume of approximately 6.5 Mt/year.
The acquisition includes Pavilion Energy’s portfolio of LNG offtake and supply contracts, regasification capacity, and LNG bunkering business, strengthening Shell’s position in the LNG market. Pavilion Energy’s portfolio also includes long-term regasification capacity of approximately 2 Mt/year at the Isle Grain LNG terminal in the United Kingdom, as well as regasification access in Singapore and Spain.
However, Pavilion Energy’s pipeline gas business in Singapore was not included as part of the transaction with Shell, and has been transferred to Gas Supply Pte, a subsidiary of Singapore’s Temasek. In addition, Pavilion Energy’s 20% interest in blocks 1 and 4 in Tanzania was also not included in the deal.
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