The liquefied natural gas subsidiary of Temasek, Pavilion Energy Pte, had laid out plans to invest in Asian terminals and infrastructure to expand its aim of providing gas supplies in the region. Temasek is the Singaporean state owned investment firm.
Pavilion Energy would add more funds to its authorized capital worth USD1 billion to complete its objectives. This was confirmed by Pavilion Energy Pte CEO Seah Moon Ming during an LNG conference in Singapore hold today.
Seah said, "We will acquire assets across the full LNG value chain by building strong relationships with key partners, investing and co-investing in gas acreage, liquefaction plants and assets, shipping and regasification."
Temasek established Pavilion Energy last April to enter the growing demand in Asia for liquefied natural gas. In the next three months, Pavilion would start trading LNG and would seek to form partnerships with trading companies in Asia such as Japan, South Korea, China and Taiwan. It would also reduce the supply risk to consider purchases of LNG from Africa, Australia and North America. According to data compiled by Bloomberg, Pavilion Energy currently has no long-term supply contracts.
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