Pavilion Energy Eyes Role in Arctic LNG 2
Singapore-based Pavilion Energy November 13 said it has signed an agreement to evaluate a potential participation in and offtake from Russian Novatek’s Arctic LNG 2 project.
As per the agreement the two companies will also collaborate on marketing, swaps and trading as well as joint investments and commercial arrangements for shipping and transshipment facilities.
“Our partnership with Novatek will reinforce Pavilion Energy’s strategic supply portfolio”, said Frederic Barnaud, CEO of Pavilion Energy, “and accelerate our expansion, thriving regionally and globally from our solid anchor in Singapore.”
Novatek is developing an LNG project Arctic LNG 2 in the north of Siberia, which will be its second such project after Yamal LNG.
Pavilion is looking to strengthen its global LNG trading activities. Last month, it signed an agreement with shipowner BW Group for the long-term charter of two newbuild LNG carriers. The two M-type, Electronically Controlled, Gas Injection (MEGI) ships, each with capacity for 173,400 m3, are scheduled for delivery between 2019 and 2020.