Pavilion Gas, Singapore LNG ink storage and reload deal
Pavilion Gas and Singapore LNG Corporation signed a deal for LNG storage and reload services at the Singapore LNG terminal on Jurong Island.
This agreement concluded a request for proposals process initiated by SLNG in February 2017, where interested parties were invited to submit proposals for the provision of storage and reload services on a segregated basis at the terminal.
Under the agreement, Pavilion Gas has rights to access tank capacity on a segregated basis at the SLNG terminal for LNG storage and reload services over the next 24 months, SLNG said on Thursday.
This supports the higher volume of LNG trading activities, small-scale LNG opportunities, LNG breakbulk and vessel cool-down services.
Pavilion Gas will work with industry players to trade LNG indexed to the Sling (SGX LNG Index Group) to support more trades based on the index.
Commenting on the agreement, Seah Moon Ming, CEO of Pavilion Energy and Pavilion Gas the increased spot trading volume will strengthen Singapore’s position as an Asian LNG hub.