Pavilion Gas, Singapore LNG Sign LNG Storage Agreement
Singaporean Pavilion Gas and Singapore LNG Corporation (SLNG) have signed an agreement for LNG storage and reload services at the SLNG terminal on Jurong Island, according a joint statement by the two companies issued August 24.
SLNG, in February 2017, invited interested parties to submit proposals for the provision of storage and reload services on a segregated basis at the 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.
The two companies expect this move will support 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.
“With increased spot trading volume, this will strengthen Singapore’s position as an Asian LNG hub,” CEO of Pavilion Energy and Pavilion Gas, Seah Moon Ming, said.
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