NewsShell Signs Deal To Acquire Pavilion Energy

Shell Signs Deal To Acquire Pavilion Energy

18.06.2024 14:42

Transaction expected to be completed by 1st quarter of 2025.

Shell announced Tuesday that it had signed a deal with Singaporean state-owned investment firm Temasek Holdings to buy LNG trader Pavilion Energy.

The transaction is expected to be completed by the first quarter of 2025, subject to regulatory approvals and the fulfillment of other conditions precedent, Shell said in a statement.

"The acquisition of Pavilion Energy will strengthen Shell's leadership position in LNG, bringing material volumes and additional flexibility into our global portfolio," said Zoe Yujnovich, Shell's integrated gas and upstream director.

Pavilion Energy, a unit of Temasek, trades and ships LNG, supplies natural gas, and carries out marketing activities in Asia and Europe, with a contract volume of nearly 6.5 million tons a year.

"By integrating these into Shell's global LNG portfolio, Shell is strongly positioned to deliver value from this transaction while helping to meet the energy security needs of our customers," Yujnovich added. -

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