Pavilion Gas Pte Ltd and Singapore LNG Corp. Pte Ltd (SLNG) have signed an agreement for LNG storage and reload services at the SLNG terminal on Jurong Island.
The 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 LNG 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. This supports 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.
Seah Moon Ming, CEO of Pavilion Energy and Pavilion Gas, said: “Pavilion Gas is delighted to partner SLNG on LNG storage and reload services at the SLNG terminal. With increased spot trading volume, this will strengthen Singapore’s position as an Asian LNG Hub […] We will work closely with SLNG to facilitate multi-user access of the SLNG terminal for LNG trading activities. Pavilion Gas is well-positioned to expand and grow its LNG trading presence regionally and globally."
John Ng, CEO of SLNG, said: “SLNG is happy to offer our storage and reload services to Pavilion Gas and in doing so, we will be working even more closely with Pavilion Gas to further Singapore’s ambition to become an LNG hub for the region. With the enhanced capacity and capabilities at our terminal, such as the newly- installed LNG truck loading facility and upcoming additional tank capacity, SLNG will be better able to serve industry players who are keen on using Singapore as a platform to grow their LNG businesses.” Lee Ark Boon, CEO of International Enterprise (IE) Singapore, added: “Pavilion Gas and SLNG’s partnership will further strengthen Singapore’s position as a LNG hub. It enhances our LNG marketplace by enabling more trading, storage and breakbulk activities. This will enable Singapore to tap into the rising regional LNG demand and create greater trading opportunities for all players. It also supports and complements our larger energy ecosystem, including our engineering and logistics companies developing innovative LNG infrastructure and solutions for the region.”
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/24082017/pavilion-gas-and-slng-sign-storage-and-reload-agreement/