CHEVRON AND PAVILION SIGN SIX-YEAR LNG SUPPLY AGREEMENT TO SINGAPORE
Pavilion Energy Trading & Supply and Chevron U.S.A. Inc have signed a six-year LNG sale and purchase agreement (SPA) for the supply of approximately 0.5 million tonnes of LNG per year to Singapore from 2023.
To promote increased sustainability and transparency in the LNG value chain and as required by Pavilion Energy under its supply tender2, each LNG cargo delivered under this agreement will be accompanied by a statement of its greenhouse gas (“GHG”) emissions measured from wellhead to discharge port.
In addition to supplying LNG to Singapore, Pavilion Energy and its strategic partners are committed to co-develop and implement a GHG quantification and reporting methodology for LNG. The methodology is being developed based on internationally recognised standards and will cover emissions from wellhead-to-discharge terminal, including LNG transportation.
Mr Frédéric H. Barnaud, Group CEO of Pavilion Energy, said, “As we proactively promote GHG emissions reduction and offsets, we are thrilled to be joined by Chevron. I am confident that a bold, ambitious and uncompromising industry collaboration will boost our own efforts towards achieving a meaningful impact.”
“Chevron embraces a lower-carbon future, where we will continue to deliver affordable, reliable and ever-cleaner products. I am excited that Chevron will be partnering with Pavilion Energy to develop processes and tools which will enable us to offer lifecycle carbon footprinted products to the market in Singapore,” said Mr Law Tat Win, Chevron Singapore Country Chairman.
Based in Singapore Pavilion Energy is a wholly-owned subsidiary of Temasek with a fully integrated energy business that spans the energy value chain.
(Source: Pavilion Energy)