Singapore sets up LNG investment firm

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SingaporeLNG
Singapore’s new LNG terminal

Singapore’s state investment fund Temasek Holdings has set up a company to invest in the liquefied natural gas (LNG) industry, in the latest move by the Singapore state investor to diversify its exposure and increase its energy assets, Reuters reported.

The company, Pavilion Energy Pte. Ltd, has an initial authorised capital of $805 million and expects to invest in upstream project development, build storage and regasification terminals, and invest in LNG shipping.

Temasek may co-invest alongside the new company, which is expected to commence operation in September 2013, a statement issued on April 5 said.

Temasek, which manages about S$198 billion, has been boosting investments in the energy sector, which accounted for 6 per cent of its portfolio in its last financial year that ended in March 2012, up from 3 per cent a year earlier.

The announcement came just two days after state-owned Singapore LNG Corp. said it had taken delivery of its first LNG cargo from Qatar as it prepares to launch the city-state’s first LNG import and storage terminal this quarter, with the goals of becoming a natural gas trading hub and decreasing its reliance on neighbouring Indonesia and Malaysia to supply the fuel.

Singapore is the most likely hub for trading natural gas in ASEAN, according to the International Energy Agency (IEA). Its new LNG terminal will serve a wide array of tankers and boost import capacity “far beyond” domestic needs, the IEA said.

 

 

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[caption id="attachment_8167" align="alignleft" width="300"] Singapore's new LNG terminal[/caption] Singapore's state investment fund Temasek Holdings has set up a company to invest in the liquefied natural gas (LNG) industry, in the latest move by the Singapore state investor to diversify its exposure and increase its energy assets, Reuters reported. The company, Pavilion Energy Pte. Ltd, has an initial authorised capital of $805 million and expects to invest in upstream project development, build storage and regasification terminals, and invest in LNG shipping. Temasek may co-invest alongside the new company, which is expected to commence operation in September 2013, a statement issued on...

Reading Time: 1 minute

SingaporeLNG
Singapore’s new LNG terminal

Singapore’s state investment fund Temasek Holdings has set up a company to invest in the liquefied natural gas (LNG) industry, in the latest move by the Singapore state investor to diversify its exposure and increase its energy assets, Reuters reported.

The company, Pavilion Energy Pte. Ltd, has an initial authorised capital of $805 million and expects to invest in upstream project development, build storage and regasification terminals, and invest in LNG shipping.

Temasek may co-invest alongside the new company, which is expected to commence operation in September 2013, a statement issued on April 5 said.

Temasek, which manages about S$198 billion, has been boosting investments in the energy sector, which accounted for 6 per cent of its portfolio in its last financial year that ended in March 2012, up from 3 per cent a year earlier.

The announcement came just two days after state-owned Singapore LNG Corp. said it had taken delivery of its first LNG cargo from Qatar as it prepares to launch the city-state’s first LNG import and storage terminal this quarter, with the goals of becoming a natural gas trading hub and decreasing its reliance on neighbouring Indonesia and Malaysia to supply the fuel.

Singapore is the most likely hub for trading natural gas in ASEAN, according to the International Energy Agency (IEA). Its new LNG terminal will serve a wide array of tankers and boost import capacity “far beyond” domestic needs, the IEA said.

 

 

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