Pavilion, SLNG Renew LNG Storage Pact
Pavilion Energy and Singapore LNG Corporation (SLNG) have signed a new five-year agreement for LNG storage and reload services at the SLNG terminal on Jurong Island, the companies said March 10 in a joint statement. Pavilion and SLNG first signed a two-year deal in August 2017.
“Pavilion Energy is pleased to renew the partnership with SLNG. Tank capacity in Singapore presents greater opportunities for LNG optimisation and trading in the Asia-Pacific Basin. It complements well our LNG/gas trading activities in the Atlantic Basin,” said Frederic H. Barnaud, CEO of Pavilion Energy, “Pavilion Energy has held true to our commitment to facilitate wide access to the SLNG terminal, contributing to the vibrancy of Singapore’s LNG market.”
Under the agreement, Pavilion Energy will have access to a tank capacity of 180,000 m3 on a segregated basis at the SLNG terminal over the next five years. The companies expect such capacity will support a higher volume of LNG trading activities, including LNG breakbulk and vessel cool-down services.
“SLNG is happy to extend our cooperation with Pavilion Energy through this longer-term storage and reload services agreement. 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,” Tan Soo Koong, CEO of SLNG said. “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.”
Pavilion also has a multi-year agreement with German Uniper to use each other's storage capacity. The agreement, signed in 2017, allows Uniper, which also trades coal, to access Singapore storage and reload facility while Pavilion benefits from the access to LNG regas capacities in Gate LNG terminal and Grain LNG terminal.