Pavilion Energy

 

Speech By Tan Sri Mohd Hassan Marican Chairman Of Pavilion Energy At The SPA Signing Ceremony Between Pavilion Energy Trading & Supply and QP Trading LLC

9 November 2020


Image for Speech By Tan Sri Mohd Hassan Marican Chairman Of Pavilion Energy At The Spa Signing Ceremony Between Pavilion Energy Trading & Supply and QP Trading LLC

Dr Tan See Leng, Second Minister for Trade and Industry of Singapore,

His Excellency Mr Saad Sherida Al-Kaabi, Minister of State for Energy Affairs of Qatar, President & CEO of Qatar Petroleum, Board Members,

Ladies and Gentlemen,

A very warm welcome to this LNG sale and purchase agreement signing ceremony between Pavilion Energy and Qatar Petroleum Trading. Thank you all for being here to celebrate this significant milestone with us, and special thanks to Minister Tan and Minister Al-Kaabi for gracing this event.

In March 2020, Pavilion Energy launched the world’s first carbon neutral supply tender for LNG. In addition to reliable and competitive long-term supply to Singapore, the tender sought for supply partners’ commitment to co-develop and implement a GHG quantification and reporting methodology for LNG from wellhead to discharge port. I am pleased to report an exceptional show of interest from the industry.

This tender set out an ambitious yet pragmatic approach to addressing the energy transition. The methodology, which will be developed based on internationally recognised standards, should cover emissions from the wellhead to discharge terminal, including LNG transportation. Pavilion Energy hopes this methodology will become standardised as a common industry framework via a statement of GHG emissions, paving the way towards more environmentally responsible and sustainable natural gas strategies.

To this end, Pavilion Energy is pleased to partner with Qatar Petroleum on this innovative LNG supply agreement. This agreement is for approximately 1.8 mtpa of LNG supplied to Singapore for 10 years, from 2023.

I want to record our appreciation to the negotiating teams from Qatar Petroleum and Pavilion Energy for their hard work and dedication in making this Sale and Purchase Agreement a reality.

Two years ago, the inaugural LNG cargo Pavilion Energy imported into Singapore for its downstream supply obligations originated from Qatar. Today, we are delighted to enhance our strategic relationship with Qatar Petroleum. This partnership will strengthen our position in the Singapore market and our status as a global energy trader.

Pavilion Energy looks forward to growing this relationship with Qatar Petroleum.

Thank you.

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