BW Group, Pavilion Energy Form JV in Maritime LNG Sector

BW Group and Pavilion Energy have entered into an agreement to form a joint venture, BW Pavilion LNG Pte. Ltd., to acquire, manage and charter maritime LNG assets, including LNG carriers, the two companies said in a joint statement Friday.

BW Group is a leading global maritime group involved in oil and gas transportation, floating gas infrastructure, environmental technologies and deepwater production while Pavilion Energy is a Temasek portfolio company, focused on the global LNG supply chain.  

"We look forward to a long-term partnership with Pavilion Energy, leveraging our experience in the maritime LNG value chain and our long-established talent base in Singapore to develop opportunities in the sector," Andreas Sohmen-Pao, BW Group CEO, said.

The JV's assets will initially be established 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," Seah Moon Ming, Group CEO of Pavilion Energy, said.