Money News

Singapore's Pavilion, Finland's Gasum to develop global LNG bunker supply network

SINGAPORE (Reuters) - Singapore’s Pavilion Energy and Finnish state-owned gas company Gasum said on Thursday they would collaborate to develop a global liquefied natural gas (LNG) bunker supply network for their customers in Singapore and northern Europe.

Under a memorandum of understanding, the companies agreed to leverage each other’s LNG bunker infrastructure and supply capabilities in their respective regions of operations to provide global supply points for their customers, they said.

“We will complement this alliance with additional LNG bunkering partnerships in the Mediterranean, North Asia and the Americas,” said Frederic Barnaud, group chief executive officer of Pavilion Energy, a gas importer and marketer owned by Singapore’s state investor Temasek Holdings.

Pavilion is developing LNG bunkering activities, in line with Singapore’s vision of becoming a hub for the cleaner alternative to shipping fuel.

Gasum has five LNG bunker vessels in operation and several LNG terminals in the Nordics.

Reporting by Jessica Jaganathan; Editing by Subhranshu Sahu