Pavilion Energy

 

Singapore's Pavilion Energy Sets Up Subsidiary for Downstream Gas Operations.

10 July 2013

Singapore (Platts)

Singapore-based Pavilion Energy has set up a wholly owned subsidiary, Pavilion Gas, to manage its downstream gas operations in the city state, a company spokesman said Wednesday.

Pavilion Gas will also be responsible for distributing and trading LNG regionally. Pavilion Energy will still handle the upstream function of securing LNG supply for Singapore and the region and investing in LNG assets and related businesses globally.

Pavilion Gas was set up on March 28, around the same time as Pavilion Energy, with an initial paid-up capital of S$1.25 million (around $980,000).

Liew Mun Leong has been appointed chairman of Pavilion Gas, while Seah Moon Ming, who is acting as the group CEO of Pavilion Energy, will be CEO of Pavilion Gas as well.

Both Pavilion Energy and Pavilion Gas are expected to start operations by September, the spokesman told Platts.

Platts reported in early April that Temasek Holdings had incorporated a new investment firm, Pavilion Energy, to "participate and invest in various parts of the LNG value chain to ensure long-term LNG supply."

This includes getting involved in LNG trading, partnering with international oil and gas companies to develop upstream LNG projects, building LNG storage and regasification terminals, and investing in LNG shipping.

Singapore's first LNG import and regasification terminal on Jurong Island was commissioned at the end of March with an initial capacity of 3.5 million mt/year. The first commercial cargo arrived in May.

-- Reported by: Chloe Hang chloe.hang@platts.com
-- Edited by: E Shailaja Nair shailaja.nair@platts.com

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