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Temasek to Sell Pavilion Energy to Shell

Jun 18, 2024 1 min read

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Temasek, Singapore's global investment company, has agreed to sell 100% of its shares in liquefied natural gas (LNG) trading firm Pavilion Energy to Shell in a deal valued at hundreds of millions of U.S. dollars. This transaction will grant Shell access to gas markets in Europe and Singapore, further expanding its LNG footprint. The financial specifics of the sale were not disclosed.

Pavilion Energy, established in 2013, has grown from its Singapore base to include operations in Europe, amassing a portfolio of LNG supply contracts from suppliers such as Chevron, BP, and QatarEnergy. The deal, expected to be finalized by the end of the first quarter of next year pending regulatory approvals, will not include Pavilion Energy’s 20% interest in Blocks 1 and 4 in Tanzania. Temasek will also retain its wholly owned unit, Gas Supply Pte Ltd (GSPL), which imports piped natural gas from Indonesia.

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