Shell Eastern Trading Pte. Ltd. has completed the acquisition of Pavilion Energy Pte. Ltd., a Singapore-based global LNG trading company.
This acquisition includes Pavilion Energy’s portfolio of approximately 6.5 million tonnes per annum (mtpa) in LNG offtake and supply contracts, regasification capacity, and an LNG bunkering business. The deal strengthens Shell’s position in the LNG market and aligns with its strategy to grow LNG sales by 4-5% annually through 2030.
The transaction, initially announced on June 18, 2024, includes long-term regasification capacity in the UK, Singapore, and Spain, as well as the time-charter of five LNG vessels. However, Pavilion Energy’s pipeline gas business in Singapore and its 20% interest in Tanzania’s Blocks 1 and 4 were excluded from the deal.
Shell, which has supplied LNG to Singapore for over a decade, aims to integrate Pavilion Energy’s assets into its global LNG portfolio immediately, further enhancing its role in securing Asia’s energy supply.
