Shell Eastern Trading Pte. Ltd., a subsidiary of Shell plc, signed an agreement with Carne Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek, to acquire 100% of shares of Pavilion Energy Pte. Ltd. Pavilion Energy includes a global liquefied natural gas (LNG) trading business with a contracted supply volume comprising about 6.5 million tonnes per annum (mtpa).
Pavilion has long-term regasification capacity of approximately 2 mtpa at the Isle of Grain LNG terminal (UK), regasification access in Singapore and Spain, as well as the time-charter of three M-type, Electronically Controlled Gas Injection (MEGI) LNG vessels and two Tri-Fuel Diesel Electric (TFDE) vessels. It is also contained LNG bunkering business in Singapore.
Both Shell and Pavilion Energy held LNG bunker supplier licenses in Singapore, making them competitors. It is expected that Shell will play a significant role in forming an LNG bunker hub port. LNG bunker sales in Singapore reached 48,800mt in May 2024, with sales volumes on an upward trend in this year.