Pavilion Energy Signs 10-Year LNG Deal with Qatar Petroleum
Singapore's Temasek-owned Pavilion Energy signed a 10-year LNG sales and purchase agreement with Qatar Petroleum on November 9, 2020, allowing Qatar Petroleum to supply up to 1.8 million tons of LNG per year to Singapore from 2023.
This SPA between Pavilion Energy and Qatar Petroleum is an important and innovative development for the LNG industry, said Singapore's second minister for trade and industry Tan See Leng at the signing ceremony.
Both companies have pledged to develop a methodology to quantify carbon emissions for LNG cargo based on internationally recognized standards, Tan said, adding this will pave the way for increased demand for carbon offset projects to reduce emissions associated with the LNG supply chain.
"This commitment by Qatar Petroleum, one of the world's largest LNG exporters, and Pavilion Energy, Singapore's global energy merchant, demonstrates leadership and partnership in creating a sustainable future," he said.
