The sovereign wealth fund of Singapore, Temasek Holdings Pte Ltd has established a new investment fund focused on liquefied natural gas. This fund would tap into the growing demand in Asia, specifically the countries with the greatest demand, namely China, India and Japan.
Temasek has set aside Sing$1 billion or US$806 million as authorized capital of the investment unit named Pavilion Energy Pte. The company would commence operations by September 2013 and would be lead by techology entrepreneur Seah Moon Ming. He joined Temasek last month as Senior Managing Director for Special Projects.
The chairman of the fund would be Hassan Marican, former CEO of Malaysian backed oil company Petronas. The goal of Pavilion Energy Pte is to invest globally in LNG related industries such as trading and exploration as well as shipping, storage and processing.
The company would be operating in North America, Asia, Europe, Africa and Australia to invest together with Temasek.
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