Britain To Build A ‘National Flagship’ To Promote Maritime Trade
by Alistair Smout (Reuters) – Britain is to build a new flagship to promote its business and trade interests around the world, the government said on Saturday, in a move it...
Total announced today the signing of a 10-year LNG sale and purchase agreement with Pavilion Gas, the Singapore-based LNG distribution and trading house.
Sourced from Total’s global LNG portfolio, the company will provide 0.7 million tons per year (mtpa) of liquefied natural gas to Asia starting in 2018. Total notes that several LNG cargoes will be supplied prior to that date however.
“Pavilion Energy is also looking at, and working on long-term supply opportunities from the U.S., Asia-Pacific and the Middle East,” commented Mr Seah Moon Ming, Group Chief Executive Officer, Pavilion Energy Pte Ltd. in a speech this past February.
This news follows a week after the signing of a joint venture agreement between Pavilion Energy, the parent company of Pavilion Gas, with BW Group to acquire, manage and charter maritime assets to transport LNG.
Named BW Pavilion LNG, the JV will initially consist of three LNG carriers, two of which are scheduled to be delivered from Hyundai Heavy Industries in 2015, the third has been brought over from BW Group’s existing fleet.
Last November, the company shelled out USD $1.288 billion to purchase a 20% interest in three Tanzanian gas discoveries from Ophir Energy. First production is anticipated in 2020.
These agreements and joint ventures are part of a larger plan by Pavilion to create an Asian LNG hub based in Singapore.
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