The sale and purchase agreement will see Singapore secure up to 1.8m tonnes of LNG a year from 2023 for 10 years.
Singapore is seeking reliable and competitive long term imports of LNG, as well as commitment by the supply partner on implementing GHG quantification and reporting methodology for LNG from well to discharge port. Hence, each LNG cargo delivered under this agreement will be accompanied by a statement of its GHG emissions measured from well to discharge port.
Pavilion Energy expects this methodology to become standardised as a common industry framework via a statement of GHG emissions, paving the way towards more environmentally responsible and sustainable natural gas strategies.
“The inaugural LNG cargo Pavilion Energy imported into Singapore for downstream supply in 2018 originated from Qatar. We are delighted to enhance our strategic relationship with Qatar Petroleum, the world’s largest LNG producer. This partnership will strengthen our core Singapore market and our role as a global energy trader,” said said Tan Sri Mohd Hassan Marican, chairman of Pavilion Energy.
His Excellency Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, president and ceo of Qatar Petroleum, commented: “I am pleased to announce that QP Trading has concluded its first long-term sale and purchase agreement with Pavilion Energy Trading & Supply following a competitive process.”
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.  |
