Singapore's Pavilion Energy signs 10-year LNG deal with BP [Reuters]
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Source: Reuters
Singapore's Pavilion Energy signs 10-year LNG deal with BP By Jessica Jaganathan 3 Min Read * Deal is for 0.8 mtpa of LNG starting from 2024 * Third long-term deal signed by Pavilion since Nov SINGAPORE, June 9 (Reuters) - Singapore’s Pavilion Energy has signed a 10-year deal to buy liquefied natural gas (LNG) from BP’s Singapore unit starting in 2024, the companies said on Wednesday, as the city-state seeks to diversify its gas supply sources. The long-term binding LNG sale and purchase agreement (SPA) is for the supply of about 0.8 million tonnes of LNG a year to Singapore, Pavilion and BP said in a joint statement. They did not give financial details. This is the third long-term deal that Pavilion, owned by Singapore state investor Temasek Holdings, has signed since November. The other two deals were with Chevron Corp and Qatar Petroleum Trading. Singapore is trying to diversify its gas imports as its long-term piped-gas contracts with neighbouring Indonesia start to expire from 2
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