Pavilion Energy Singapore (formerly Pavilion Gas) and Singapore LNG Corporation Pte Ltd (SLNG) have signed an agreement for Liquefied Natural Gas (LNG) Storage and Reload Services at the SLNG Terminal on Jurong Island. This agreement concluded a Request for Proposals process initiated by SLNG in February 2017, where interested parties were invited to submit proposals for the provision of Storage and Reload Services on a segregated basis at the Terminal.
Under the agreement, Pavilion Energy Singapore has rights to access tank capacity on a segregated basis at the SLNG Terminal for LNG Storage and Reload Services over the next 24 months. This supports higher volume of LNG trading activities, small-scale LNG opportunities, LNG breakbulk and vessel cool-down services. Pavilion Energy Singapore will work with industry players to trade LNG indexed to the Sling (SGX LNG Index Group) to support more trades based on the index.
"Pavilion Energy Singapore is delighted to partner SLNG on LNG Storage and Reload Services at the SLNG Terminal. With increased spot trading volume, this will strengthen Singapore's position as an Asian LNG hub," said Mr Seah Moon Ming, CEO of Pavilion Energy and Pavilion Energy Singapore, "We will work closely with SLNG to facilitate multi-user access of the SLNG Terminal for LNG trading activities. Pavilion Energy Singapore is well-positioned to expand and grow its LNG trading presence regionally and globally."
Mr John Ng, CEO of SLNG said, "SLNG is happy to offer our Storage and Reload Services to Pavilion Energy Singapore and in doing so, we will be working even more closely with Pavilion Energy Singapore to further Singapore's ambition to become an LNG hub for the region. With the enhanced capacity and capabilities at our Terminal, such as the newly-installed LNG Truck Loading Facility and upcoming additional tank capacity, SLNG will be better able to serve industry players who are keen on using Singapore as a platform to grow their LNG businesses."
Said Mr Lee Ark Boon, CEO of International Enterprise (IE) Singapore, "Pavilion Energy Singapore and SLNG's partnership will further strengthen Singapore's position as an LNG hub. It enhances our LNG marketplace by enabling more trading, storage and breakbulk activities. This will enable Singapore to tap into the rising regional LNG demand and create greater trading opportunities for all players. It also supports and complements our larger energy ecosystem, including our engineering and logistics companies developing innovative LNG infrastructure and solutions for the region."
About Singapore LNG Corporation Pte Ltd
Singapore LNG Corporation Pte Ltd (SLNG) was incorporated in June 2009 to build, own and operate Singapore's very first open-access, multi-user LNG Terminal. This is a key infrastructure that supports Singapore's energy diversification strategy and future economic development in the energy sector. The Terminal began commercial operations in May 2013 and its primary mandate is to provide Throughput Services for the domestic market. Beyond this, SLNG also offers ancillary services such as Vessel Cool-down, Storage & Reload, and LNG Truck Loading services. SLNG will continuously explore new LNG business opportunities as it pursues its vision to be a world-class LNG terminal operator enabling the growth of the energy market and LNG hub in Singapore.
Note: As of 1 October 2019, Pavilion Gas has been renamed to Pavilion Energy Singapore.