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Staff Memo by Pavilion Energy Chief Executive Officer Mr Seah Moon Ming

Press Release – Pavilion Energy names Frédéric Barnaud as next Chief Executive Officer
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5 December 2017

Dear colleagues,

Since taking up the position of Chairman SMRT on 27 July 2017, I am sure you know that Singapore has had to deal with a number of major MRT incidents. It has become increasingly urgent that I spend more time at SMRT and focus on supporting and leading the efforts by the management team to resolve these issues, and to also build a stronger organisation that delivers safe, reliable and efficient services to our commuters.

I will therefore be relinquishing my appointment as CEO Pavilion Energy and Pavilion Gas. I ask for your kind understanding and support. My last day as CEO will be 1 February 2018. Thereafter, I hope to continue to interact with each and every one of you.

I trust that you are as proud as I am of Pavilion Energy and of what we have accomplished in our nearly 5 years together. Remembering the early days when we had to work so hard to gain recognition from the industry and also to win the EMA RFP licence.

I believe we have achieved more than we could have imagined since our incorporation in March 2013. We have built an established strong brand equity for Pavilion Energy as a recognised player and partner-of-choice in the LNG industry.

Today, Pavilion Gas is the only Singapore Inc. company that is licenced as an LNG importer. We must continue to take this role seriously, as it contributes to our nation’s energy security.

Apart from the LNG importer licence, we have also secured the gas shipper and retailer licences and an LNG bunkering licence in Singapore. We have been a strong champion of Singapore’s role as a leading LNG Trading Hub in Asia and an early adopter of the Sling index.

As a group, we have staked out key positions along the global LNG value chain, including gas reserves in Tanzania; gas offtake from U.S. projects and portfolio suppliers; joint ownership in three LNG carriers; and the use of the SLNG third storage tank. Pavilion Gas has developed full LNG trading and operational capabilities and has been pioneering small-scale LNG distribution in the region.

As a company, we are robust and disciplined, with strong systems and processes in place to deal with the business we are building. We also have an engineering team that is always ready to help our commercial teams and customers with LNG systems and solutions that work.

Notwithstanding all that has been happening in global oil and gas markets, the future for Pavilion Energy is bright. We are at the centre of a growing LNG market, underpinned by China, India and Southeast Asia. We have established many trading MSPAs and several leads, as well as regional market development projects and prospects. I am confident that our teams will continue to do well.

I deeply appreciate your hard work, support and friendship these last five years and ask that you give the next CEO, Frédéric Barnaud, the same level of support. Frederic is currently the Chief Commercial Officer of LNG, Oil/LPG & Shipping for the Gazprom Marketing & Trading Group. I trust he will do that it takes to bring Pavilion Energy to the next phase of growth.

Life is a journey of learning, adapting and growing stronger. So we must always be prepared for change, and embrace it. Let me take this opportunity to wish you and your family Merry Christmas and Happy New Year.