Asia/Pacific News
Pavilion Energy and ExxonMobil to Partner on LNG Bunkering in Singapore
Pavilion Energy Pte Ltd (Pavilion) and Exxon Mobil Corp. (ExxonMobil) will work together to develop liquefied natural gas (LNG) bunkering in Singapore, as well as other downstream projects, local media reports.
Seah Moon Ming, CEO of Pavilion, at the CWC World LNG summit in Singapore, said the collaborative effort is intended to develop and enhance LNG bunkering procedures, and will begin by focusing on truck to ship deliveries.
"This initiative will also help test and improve the safety and operational standards for LNG bunkering in Singapore," said Seah, adding that the company is looking to partner with other industry players as well in order to "build a flourishing LNG bunkering ecosystem in Singapore and the region."
Seah says the industry is currently seeing a "rebalancing" from low oil prices, including a shift from longer term deals to spot or short-term agreements.
"Buyers are also looking for more flexibility, with respect to LNG prices and destinations," said Seah, noting that there is also an opportunity to find new areas of LNG demand, specifically small-scale opportunities in Southeast Asia.
"Indonesia and the Philippines - they will be very good starting points for us in terms of small-scale LNG projects."
Last year, Pavilion said it would be developing LNG bunkering services in Singapore and small-scale supply chain solutions in other Southeast Asia locations.
In January, the Maritime and Port Authority of Singapore (MPA) awarded its first licences for LNG bunkering to Pavilion Gas, and a joint bid from Keppel Offshore & Marine (Keppel O&M) and BG Group.
