Temasek Forms Company to Invest in LNG Sector

Singapore government owned Temasek Holdings has set up a company, Pavilion Energy, to invest in the liquefied natural gas (LNG) industry.

Various media outlets report that Pavilion Energy plan to invest across the LNG value chain, such as LNG trading, exploration, storage, LNG shipping and terminals. The new company has an initial authorised capital of $805.25 million.

Singapore has been focusing on securing stable energy supplies as demand is set to rise. Singapore’s LNG consumption is likely to hit 3 million metric tons by 2015, Steve Hill, BG Group’s vice president of global LNG and oil marketing, said at a conference in the city-state in January this year, Bloomberg had reported.

Also, earlier this year, an IEA report said that Singapore seemed to be most suited in Asia to develop a competitive natural gas market and trading hub in the medium term.