Chairman of the Oil Council, distinguished guests, friends and colleagues, ladies and gentlemen,
Congratulations to the Oil Council for a successful 2015 Asia-Pacific Oil & Gas Assembly event, which has brought together senior oil & gas executives from various sectors to Singapore.
It is my honour to be here this evening. The “2015 APAC EXECUTIVE OF THE YEAR AWARD” is only possible for me today because of my team at Pavilion Energy and Pavilion Gas. Through their dedication and contribution, we have achieved what we have today. This award is a recognition of the team efforts in Pavilion Energy and Pavilion Gas. On behalf of the team, I would like to give my sincere thanks to the Oil Council for this prestigious award. Both Pavilion Energy and Pavilion Gas were incorporated in March 2013 and in every sense are start-up companies. We are just under 2 years old and still have a long journey ahead of us.
There are colleagues, friends and partners present here tonight who are more accomplished and deserving of this award. So it is an honour and privilege for me to humbly receive this award. I am grateful for the support from the oil and gas community. I am especially thankful to my team. They have been and are instrumental in developing the company’s LNG capabilities. They are key to the company’s achievements to-date. Allow me to dedicate this award to my team, who is sitting over there.
Pavilion Energy was established by Temasek to be a regional LNG company that participates in the global LNG value chain. I would like to thank Temasek for their support to my team and I. It has been a busy one and half year. Pavilion Energy has an equity stake in Tanzania’s gas blocks as well as gas off-take and gas supplies from the US and global sources. The company has also formed a joint venture with BW Group to build reliable shipping capacity and capabilities. The JV now has three LNG carriers. Pavilion Gas continues to increase its downstream customer-base and build up its regional LNG trading capabilities, which includeengaging in storage and reload transactions. In a joint effort with SGX and IE Singapore, we hope to establish Singapore as a regional trading hub with a Singapore LNG Price Marker. The pursuit for more transparency in a “gas to gas” LNG pricing is an endeavour that will benefit all of us in the long run.
This award is encouraging to me and my colleagues in Pavilion Energy and Pavilion Gas. We will continue to do our very best to build an LNG future that will serve our industry and our communities.
Let me once again express my gratitude to the Oil Council for this award, as well as to our partners and customers for their strong support. Pavilion Energy values partnerships and collaborations. We see this as important in everything we do. As 司马迁, a famous Chinese Historian, about 2,000 years ago, once said "一花独放不是春，万紫千红春满园 ". It means one flower does not represent the coming of Spring, until we are able to see the full blossom of the entire garden.
I am grateful for the opportunity to lead and work with capable individuals in a dynamic organisation, and to collaborate with supportive industry partners. Allow me to end my remarks with a quote from Lao Tzu: "千里之行，始于足下". The journey of a thousand miles begins with a single step. Pavilion Energy has taken this step, and we look forward to working closely with our partners and the oil and gas community on this journey.
Thank you and let me also take this opportunity to wish you all a happy and successful year ahead.