Under the agreement, Pavilion Energy, wholly-owned by Singapore government’s Temasek Holdings, will have access to tank capacity of 180,000 cu m on a segregated basis at the SLNG Terminal over the next five years.
The capacity is expected to support a high volume of LNG trading activities including LNG breakbulk and vessel cool-down services.
Frederic H. Barnaud, group ceo of Pavilion Energy, said the collaboration with SLNG will contribute to the “vibrancy of Singapore’s LNG market” and offers “opportunities for LNG optimisation and trading in the Asia-Pacific basin.”
Tan Soo Koong, ceo of SLNG, said: “SLNG has taken bold steps to develop infrastructure and create new service offerings to meet the needs of the industry, and we will continue to do so.
“We are primed to play our part in helping Singapore achieve its ambition of becoming an LNG hub, through catalysing LNG-related businesses such as LNG trading, small-scale LNG distribution, LNG bunkering, and more,” Tan added.
Global LNG trade continues to grow with import volumes reaching 313m tonnes in 2018 and spot trades making up a quarter of those volumes.
In 2018, Singapore ranked second worldwide in terms of LNG re-export volumes, given the country’s geographic position along key shipping routes and being home to over 40 LNG companies.
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