Singapore's Temasek Holdings has incorporated a new LNG investment firm, Pavilion Energy, to tap into Asia's growing energy demand, the state-owned company said late Friday.

The firm would have initial capital of S$1 billion (about $806 million) and start up in September, Temasek said in a statement.

Pavilion Energy is aiming to "participate and invest in various parts of the LNG value chain to ensure long-term LNG supply," the company said.

It sees itself getting involved in LNG trading, partnering with international oil and gas companies to develop upstream LNG projects, building LNG storage and regasification terminals, and investing in LNG shipping.

"As the region's economies continue to transform and urbanize, the demand for clean energy, especially LNG, is expected to increase," the statement said.

Pavilion Energy might also invest alongside Temasek, which has been stepping up its investments in the energy and resource sectors over the last few years.

In early March, Temasek bought an additional 5% share in Repsol to lift its holdings in the Spanish oil and gas company to 6.3%.

Pavilion Energy named Tan Sri Mohd Hassan Marican, former president and CEO of Petronas, chairman. Seah Moon Ming was named CEO.

State-run gas importer Singapore LNG Corp. received its first LNG cargo from supplier QatarGas on March 27. It was used to commission the country's first LNG regasification terminal, which has an initial capacity of 3.5 million mt/year.

-- Reported by: Chloe Hang chloe.hang@platts.com
-- Edited by: Meghan Gordon meghan_gordon@platts.com