Shell is set to acquire Pavilion Energy, a Singaporean LNG company, from Temasek. This move aims to boost Shell’s leading position in the LNG market. The deal, involving hundreds of millions of dollars, will give Shell access to key gas markets in Europe and Singapore. Pavilion Energy’s supply contracts and regasification capacities in the UK, Singapore, and Spain, along with its LNG bunkering business in Singapore, are part of the acquisition.
Learn how to trade oil and gas with Top Forex brokers
Shell’s integrated gas director, Zoë Yujnovich, stated that the purchase would add significant volumes and flexibility to Shell’s portfolio. The deal aligns with Shell’s growth goals, aiming for a 20-30% expansion in its LNG business by 2030. Temasek will retain its Gas Supply Pte Ltd unit and some of Pavilion’s pipeline gas contracts, while Pavilion Energy will operate independently until the deal is completed, expected by early next year.
Subscribe for our newsletter
Get Forex brokers reviews, market insights, expert analytics and education material right into your inbox for free!