Shell Eastern Trading has completed the previously announced acquisition of 100% of the shares in Pavilion Energy.
Pavilion Energy, headquartered in Singapore, operates a global LNG trading business with contracted supply volume of approximately 6.5 million tonnes per annum (mtpa). The acquisition includes Pavilion Energy’s portfolio of LNG offtake and supply contracts, regasification capacity, and LNG bunkering business, strengthening Shell’s position in the LNG market.
The acquisition will be absorbed within Shell’s cash capital expenditure guidance. This acquisition helps to deliver on Shell’s ambition to solidify its leading position in liquified natural gas (LNG) by growing sales by 4-5% per year through to 2030. The integration of Pavilion Energy’s assets into Shell’s global LNG portfolio will commence immediately.
