Temasek of Singapore Sets Up LNG Company

Temasek Holdings of Singapore has set up a company, Pavilion Energy, with an initial authorised capital of S$1 billion, to invest in the liquefied natural gas industry.

Pavilion Energy has appointed Tan Sri Mohd Hassan Marican, the former President and CEO of Petronas, as the chairman of its Board.

The company has also named Seah Moon Ming as its Chief Executive Officer. He was most recently the Deputy CEO of ST Engineering, overseeing ST Aerospace, ST Electronics, ST Kinetics and ST Marine.

Mr Seah said, “To secure long term and stable supply of LNG to our customers in Singapore and the Asian region, we will be sourcing our LNG supply from multiple sources and various partners in North America, Europe, Asia, Africa and Australia.

“We also expect to participate and invest in various parts of LNG value chain to ensure long term LNG supply. These could include LNG trading; investing alongside international oil and gas companies as partners to develop upstream LNG projects; building of LNG storage and re-gasification terminals; and investing in LNG shipping. Long term secure and reliable supply is critical to success in the LNG business.”

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LNG World News Staff, April 8, 2013