Exclusive-Temasek to finalise deal with Shell for Pavilion Energy LNG asset sale, sources say

SINGAPORE/LONDON - Singapore's Temasek Holdings is finalising the sale of some assets from liquefied natural gas trading firm Pavilion Energy to Shell with a deal set to be completed in the coming days, two sources with knowledge of the matter said.

The deal comes months after Temasek put the Singapore-based trader up for sale after Pavilion Energy turned in a profit in the year to March 2023 on robust LNG prices in the wake of the Ukraine war. In Europe, Pavilion Energy imports about a tenth of LNG volumes in Spain, which has become a significant gas supplier in Europe by re-exporting LNG to countries such as Italy, as Russia's invasion of Ukraine prompted countries to reduce their reliance on Russian gas.In Singapore, Pavilion Energy is one of four firms appointed by Energy Market Authority to import LNG.

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