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 optimisation abilities for both companies between the Atlantic and Pacific basins.
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.
Read the article online at: https://www.lngindustry.com/lng-shipping/20092017/uniper-and-pavilion-sign-lng-deal/