Shell Eastern, a subsidiary of Shell plc, 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.
Shell Singapore, a subsidiary of Shell plc, has also successfully completed the previously announced sale of its Energy and Chemicals Park in Singapore to CAPGC, a joint venture between Chandra Asri Capital and Glencore Asian Holdings.
The transaction was done through the sale of shares in Aster Chemicals and Energy, which is incorporated in Singapore and a fully-owned subsidiary of SSPL.
The divestment is in line with Shell's ongoing efforts to high-grade its chemicals and products business. Shell remains committed to Singapore with its role as an important regional hub for Shell’s marketing and trading business.
Staff in Shell Energy and Chemicals Park Singapore will continue their employment with Aster Chemicals and Energy Pte. Ltd. under the new ownership, providing continuity for staff and contributing to ongoing operational reliability and safety.
Shell makes oil and gas decisions in the Far East
