Pavilion, BP sign 10-year LNG deal
Pavilion Energy and BP have signed a sale and purchase agreement for the supply of approximately 0.8mn metric tons/year of LNG to Singapore for 10 years from 2024, Pavilion said on June 9.
Beyond the supply of LNG to Singapore, both companies will strive to co-develop and implement a greenhouse gas quantification (GHG) and reporting methodology, Pavilion added. The methodology will cover emissions from the wellhead-to-discharge terminal and be principled on mutual transparency and adherence to relevant international standards.
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“This agreement further strengthens our relationship with BP as Pavilion Energy advances our strategies for a lower carbon future, beginning with GHG emissions quantification, reduction and offsets for Singapore,” said Pavilion CEO Frederic Barnaud.
In April this year, Pavilion imported Singapore’s first carbon-neutral LNG cargo.
"BP's ambition is to be a net zero company by 2050 or sooner and to help the world get to net zero. We are excited to enter into this agreement with Pavilion Energy not only to supply the Singapore market with LNG but also to co-develop a methodology to quantify the carbon intensity associated with the supply," Eugene Leong, BP's country president of Singapore and CEO of trading & shipping Asia Pacific & Middle East, said.