Uniper : and Singapore’s Pavilion Gas sign LNG deal providing access to their assets in respective home markets
September 20, 2017
Uniper and Singapore’s Pavilion Gas sign LNG deal providing access to their assets in respective home markets
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Uniper Global Commodities SE, Germany, and Pavilion Gas Pte Ltd, Singapore, are expanding their liquefied natural gas trading businesses with an agreement to provide each other access to its LNG asset base and associated flexibility from the assets.
The multi-year agreement between the companies provides Uniper access to Singapore storage and reload facility while Pavilion benefits from the access to LNG Re-gas capacities in Gate LNG terminal (Rotterdam, The Netherlands) and Grain LNG terminal (United Kingdom).
The deal therefore will provide Pavilion access to UK and Continental European gas markets, while Uniper will benefit from getting access to LNG assets in the Asian market.
This deal will enhance the flexibility within the diverse LNG portfolios developed by both companies over the years. It will further create LNG logistic optimization abilities for both companies between Atlantic and Pacific basin.
Uniper brings its long track record of being one of the biggest mid-stream LNG and gas portfolio players in Europe to the deal while Pavilion provides all the experience from the South East Asian LNG market with focus on Singapore.
Keith Martin, member of the board of Uniper SE, said “Uniper is very pleased to have signed this agreement with Pavilion Gas. Combining Pavilion Gas and Uniper’s LNG and midstream capabilities provides a way for our respective companies to broaden our portfolios now and in the future through this cooperation. We are thankful to the Pavilion Gas team for their efforts over the past months in concluding this important Agreement with Uniper.”
Both companies will be looking to co-operate further in different areas of energy trading providing extensive experience of their home markets and venturing into new markets together.
Uniper Global Commodities is a unit of Uniper SE, an international energy company with about 13,000 employees, based in Düsseldorf, Germany. Uniper operates in Europe, Russia, and other markets around the world. A balanced portfolio of large- scale assets-combined with outstanding technical and commercial expertise enable Uniper to deliver bespoke, competitively priced energy products and services.
Uniper operates about 40 GW of reliable power generating capacity in Europe and Russia which consists mainly of hydro, gas, and coal power plants. This asset base and fuel mix makes Uniper a large producer of reliable, dispatchable power with a high percentage of climate-friendly energy sources like hydro and gas. Uniper also has access to a variety of gas sources, longterm gas contracts and the global LNG market. In addition, Uniper operates gas storage facilities with a total capacity of about 8,5 bcm (Billion cubic meters) in Germany, Austria and the United Kingdom. Uniper’s trading activities encompass the entire energy commodity supply chain in power, emission allowances, natural gas, LNG, coal, and freight.
About Pavilion Energy
Pavilion Energy invests in key liquefied natural gas (LNG) businesses to support the growth of a sustainable future in the region. Pavilion Gas, a wholly-owned subsidiary of Pavilion Energy, is responsible for the marketing and distribution of natural gas in Singapore and the region, including small-scale LNG and LNG bunkering initiatives; and participates in LNG trading across the globe. In 2016, Pavilion Gas was appointed by the Singapore Energy Market Authority (EMA) as an LNG Importer for Singapore.
This press release may contain forward-looking statements based on current assumptions and forecasts made by the Uniper SE Management and other information currently available to Uniper. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Uniper SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.
Uniper SE published this content on 20 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 September 2017 01:04:06 UTC.