Kuala Lumpur, Singapore, 31 March 2017 – PETRONAS through its subsidiary, PETRONAS LNG Ltd. (PLL) signed a Memorandum of Understanding (MoU) to explore business opportunities for joint collaboration in regard to liquefied natural gas (LNG) with Pavilion Energy, through its wholly-owned subsidiary, Pavilion Gas, on 30 March 2017 in Kuala Lumpur.
Under the terms of the MOU, the companies will explore the supply and optimisation of LNG including spot trading and cargo swaps. In addition, the companies will also look into joint efforts relating to LNG receiving terminal and storage facilities.
Signing on behalf of PETRONAS was PLL Chief Marketing Officer & Chief Executive Office, Ezhar Yazid Jaafar, together with Wong Vin Kee, Vice President & Head of LNG Operations of Pavilion Gas. Also present to witness the signing were PETRONAS Executive Vice President & Chief Executive Officer Upstream, Datuk Mohd Anuar Taib and Seah Moon Ming, Chief Executive Officer of Pavilion Energy and Pavilion Gas.
"PETRONAS' strong presence in the integrated LNG value chain and diversified LNG portfolio, together with Pavilion Energy's position as one of the LNG importers in Singapore, will allow both companies to leverage on each other's strengths to create value and growth in the region." said Datuk Mohd Anuar Taib.
"This MOU marks a significant step in the relationship between Pavilion Energy and PETRONAS. I am delighted to see close collaboration between our two companies which will also strengthen and grow the regional LNG market," said Seah Moon Ming.
Petroliam Nasional Berhad (PETRONAS) is Malaysia's fully integrated oil and gas multinational. Established in 1974, PETRONAS is now ranked amongst the largest companies in the world with a proven track record in integrated oil and gas operations spanning the entire hydrocarbon value chain.
PETRONAS' business activities include (i) the exploration, development and production of crude oil and natural gas in Malaysia and overseas; (ii) the liquefaction, sale and transportation of Liquefied Natural Gas (LNG); (iii) the processing and transmission of natural gas, and the sale of natural gas products; (iv) the refining and marketing of petroleum products; (v) the manufacturing and selling of petrochemical products; (vi) the trading of crude oil, petroleum, gas and LNG products and petrochemical products; and (vii) shipping and logistics relating to LNG, crude oil and petroleum products.
Committed to ensuring business sustainability, PETRONAS also strives to responsibly manage natural resources in a way that contributes holistically to the wellbeing of society wherever it operates. www.petronas.com
About Pavilion Energy
Pavilion Energy invests in key liquefied natural gas (LNG) businesses to support the growth of a sustainable future in the region. Pavilion Gas, a wholly-owned subsidiary of Pavilion Energy, is responsible for the marketing and distribution of natural gas in Singapore and the region, including small-scale LNG and LNG bunkering initiatives; and participates in LNG trading across the globe. In 2016, Pavilion Gas was appointed by the Singapore Energy Market Authority (EMA) as an LNG Importer for Singapore.
For more information, please visit www.pavilionenergy.com.sg