The new joint venture, named BW Pavilion LNG, will build upon the resources of BW in LNG and will initially start its assets with one existing and two new LNG carriers.
“The partnership with BW Group represents our expansion into LNG shipping, and an investment into a critical part of the LNG value chain which enables Pavilion Energy to effectively connect global LNG supplies to regional gas demand centres in Asia,” said Seah Moon Ming, group ceo of Pavilion Energy.
Earlier this week, BW has also formed a joint venture with private equity firm Pacific Alliance Group (PAG) to acquire 10 MR product tankers.
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