BW Group and Pavilion Energy begin joint venture
The maritime expert BW Group and global LNG supply chain specialist Pavilion Energy have entered into an agreement to form a joint venture, BW Pavilion LNG Pte. Ltd. The joint venture will acquire, manage and charter maritime LNG assets, including LNG carriers.
CEO of BW Group, Andreas Sohmen-Pao, said: “We look forward to a long-term partnership with Pavilion Energy, leveraging our experience in the maritime LNG value chain and our long-established talent base in Singapore to develop opportunities in the sector.”
Seah Moon Ming, Group CEO of Pavilion Energy, said: “The partnership with BW Group represents our expansion into LNG shipping, and an investment into a critical part of the LNG value chain which enables Pavilion Energy to effectively connect global LNG supplies to regional gas demand centres in Asia.”
“The joint venture builds upon the resources and track record of BW in LNG with an important new LNG player in Pavilion Energy,” a statement from the company said. “It represents each organisation’s strong commitment to provide customers with high quality LNG shipping as well as tailored gas infrastructure solutions.” BW Pavilion LNG Pte. Ltd’s assets will initially be established with one existing and two new LNG carriers.
Adapted from press release by Ted Monroe
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/23052014/bw_group_and_pavilion_energy_begin_lng_joint_venture/
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