Pavilion and BP sign LNG supply deal for Singapore
Singapore’s Pavilion Energy and BP’s Singapore unit have signed a ten-year LNG sale and purchase agreement to start in 2024.
UK-based energy giant BP’s Singapore unit and Temasek’s Pavilion Energy agreed upon supplying approximately 0.8 million tonnes of LNG per year to Singapore for ten years starting from 2024.
Both companies also said they will go for co-development and implementation of a greenhouse gas (ghg) quantification and reporting methodology.
This methodology is to cover emissions from wellhead-to-discharge terminal. It is to be principled on mutual transparency and relevant international standards.
Frédéric H. Barnaud, Group CEO of Pavilion Energy, said that this “advances our strategies for a lower carbon future, beginning with GHG emissions quantification, reduction, and offsets for Singapore.”
Eugene Leong, BP’s country president of Singapore and CEO of trading & shipping Asia Pacific & Middle East, added: “BP’s ambition is to be a net-zero company by 2050 or sooner and to help the world get to net zero.”