Shell acquires Singapore LNG company, after Temasek's plan to sell it leaked last week

Shell recently announced that it will acquire Singapore LNG company Pavilion Energy from global investment firm Temasek. Shell stated that this move will strengthen its leadership position in the LNG sector.

Last Thursday,Is British LMAX Forex Reliable Reuters reported that Temasek would sell Pavilion Energy to Shell within the next few days, with the deal amounting to several hundred million dollars.

Shell and Temasek did not disclose the financial details of the transaction in their statements.

This acquisition will enable Shell, the world's largest LNG trader, to further expand its market reach into Europe and Singapore. Shell continues to actively grow its LNG business, especially after earning billions of dollars in profit last year.

The deal includes Pavilion Energy's annual 6.5 million tons of LNG supply contracts from suppliers such as Chevron, BP, and Qatar Energy. These supplies come from various U.S. liquefaction facilities, including Corpus Christi Liquefaction, Freeport LNG, and Cameron LNG.

Additionally, Pavilion Energy's long-term regasification capacity of approximately 2 million tons per year at the UK's Grain LNG terminal, its regasification access in Singapore and Spain, and its LNG bunkering business in Singapore, the world's largest ship refueling port, are also included.

A senior official at Shell said that this purchase would bring substantial scale and additional flexibility to the company's global operations.

Shell also noted that the acquisition would be incorporated into its existing cash capital expenditure budget, which remains unchanged.

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