(Bloomberg) -- Singapore’s Pavilion Energy Pte. Ltd. and Germany’s Uniper SE will share access to liquefied natural gas terminals in Europe and Asia to increase their options as global trade of the fuel balloons.
Pavilion will share its access to store and reload LNG at the Singapore LNG terminal, and Uniper will share its rights to load LNG at the Gate LNG terminal in Rotterdam and the Grain LNG terminal in the U.K., according to Seah Moon Ming, Pavilion’s chief executive officer, who is scheduled to speak at the CWC LNG Asia Pacific Summit in Singapore.
“The agreement will strengthen Pavilion Gas’ reach to the U.K. and Continental European gas markets,” according to Seah’s prepared remarks that were provided to Bloomberg.
“Europe’s demand for LNG is expected to grow as it looks to reducing its reliance on pipe gas. Access to these markets will also enhance the flexibility within our LNG portfolio and create further optimisation opportunities. At the same time, it will allow Uniper to have better reach to Asian markets.”
Pavilion sees trading, regional supplies and sales to customers in Singapore as the three cores of its LNG business, according to Seah. Pavilion plans to import its first LNG cargo to Singapore this year or early next year. The city-state last year chose Pavilion, a unit of state-owned investment firm Temasek Holdings Pte. Ltd., to be one of its licensed importers of the super-chilled fuel.