Pavilion Energy


Temasek Holdings' Pavilion Energy All Ready to Roll

13 September 2013

Singapore (The Business Times)

PAVILION Energy, set up in April by Temasek Holdings to handle its liquefied natural gas (LNG) business, is all ready to roll.

The company - which has just moved into its office in Tower 3 of Marina Bay Financial Centre - will move ahead in three stages, it said on its newly established website.

Over the last few months, Pavilion Energy was working to set up various parts of its operations and had earlier indicated that it expected to be operational by this month.

To support Singapore's energy security and with an eye on becoming a regional LNG player, Pavilion Energy said that it would firstly acquire strategic assets "such as gas acreage, liquefaction plants, and shipping and regasification facilities".

"Secondly, we will build our operational strength across all functions including LNG trading, sales and marketing, risk management, systems and processes; and thirdly we will integrate all components of our business to create synergies and optimise our price competitiveness."

The company, which has an initial authorised capital of $1 billion, said that "it is actively exploring business opportunities and strategic investments" and is "ready to expand our footprint right across the LNG sector".

"We aim to build long-term partnerships with established global players in securing supply, and work with expert partners in the LNG sector."

That was a factor behind its relocation to its spanking new Marina Bay office yesterday, with a Bloomberg report citing the company as saying that this was to enable it "to be closer to the LNG and financial communities in Singapore".

With an experienced senior management team and directors on board, the company said that it planned to hire more staff as business grows.

Pavilion Energy, chaired by former Petronas president and CEO Hassan Marican and current Singapore Power chairman, is helmed by Temasek senior managing director Seah Moon Ming, who is its CEO and executive director.

Other directors include Koh Kheng Siong, a former ExxonMobil senior executive; David Ledesma, an experienced LNG strategist and consultant; and Tan Suan Swee, managing director of Investments at Temasek International.

The company has also set up a wholly owned subsidiary, Pavilion Gas, to manage downstream gas operations in Singapore as well as the distribution and trading of LNG in the region.

Chairing Pavilion Gas is Liew Mun Leong, the chairman of Changi Airport Group. Its directors include Lee Ching, a former executive with Malaysia's Petronas and Malaysia LNG, and Tetsuro Kuwabara, the former CEO of Mitsubishi Corporation in Malaysia who was involved in the LNG business between Japan and Malaysia.

More details of Pavilion Energy's strategy are likely to emerge later this month when Mr Seah delivers the keynote speech at the Fifth World LNG Series: Asia Pacific Summit in Singapore.

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