Shell Acquires Pavilion Energy

SEATTLE (Oil Monster): Shell Eastern Trading Pte. Ltd, a subsidiary of Shell plc, has completed the acquisition of 100% of the shares in Pavilion Energy Pte. Ltd.

Pavilion Energy, headquartered in Singapore, operates a global LNG trading business with contracted supply volume of approximately 6.5 million tpy. 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.

The acquisition will be absorbed within Shell’s cash CAPEX guidance. This acquisition helps to deliver on Shell’s ambition to solidify its leading position in LNG by growing sales by 4 – 5%/y through to 2030. The integration of Pavilion Energy’s assets into Shell’s global LNG portfolio will commence immediately.

Courtesy: www.lngindustry.com