Singapore, Indonesia Tie Up on Mini-LNG
Singapore’s sovereign wealth fund Temasek’s portfolio company Pavilion Energy signed a memorandum of understanding (MoU) with Indonesia’s state Pertamina to cooperate in energy projects August 25.
The two parties will explore areas of cooperation in developing energy solutions, especially small scale LNG projects, for southeast Asia.
“Pavilion Energy and Pertamina have signed an MoU on energy cooperation. This MoU supports the parties’ interests in developing energy solutions in the region and fosters closer collaboration between the two parties. Both parties will work towards exploring opportunities in regional small-scale LNG projects, joint marketing, trading, procurement and investments,” a company spokesperson told NGW via e-mail.
Last year, Temasek said it wanted to start small-scale LNG projects in southeast Asia. While speaking at the 7th LNG Asia Pacific Summit in September 2015, CEO Seah Moon Ming disclosed that the company has already started discussions with several partners in markets such as Indonesia and the Philippines.
Seah Moon Ming, Group CEO of Pavilion Energy, (left) and Yenni Andayani, New and Renewable Energy Director of PT Pertamina, at the signing of the MoU (Credit: Pavilion Energy)
Since its establishment in 2013, Pavilion has inked several important energy deals. In November 2013, it bought 20% stake in Tanzanian Blocks 1, 3 and 4 from Ophir Energy. Pavilion has also formed a joint venture with BW Group, BW Pavilion LNG, to acquire, manage and charter maritime LNG assets, including LNG carriers. It also has long-term agreements to buy LNG from French Total and Russian Gazprom.