Reported 7 months ago
Sources reveal that Singapore's Temasek Holdings is in the final stages of selling assets from Pavilion Energy, an LNG trading firm, to Shell. The deal, expected to be completed soon, will provide Shell access to gas markets in Europe and Singapore to bolster its LNG trading. Although the deal's value will be in the hundreds of millions of U.S. dollars, it falls below Temasek's initial valuation target of over $2 billion. The sale is part of Temasek's strategy following Pavilion Energy's successful year amid robust LNG prices post-Ukraine war, excluding Gas Supply Pte Ltd due to energy security concerns. Pavilion Energy's global positions and activities align well with Shell's LNG growth ambitions.
Source: YAHOO