Shell (SHEL) subsidiary Shell Eastern Trading said Monday it completed the acquisition of Pavilion Energy's liquefied natural gas assets from Carne Investments.
Pavilion Energy, an indirect subsidiary of Temasek, has long-term LNG sale and supply contracts of nearly 6.5 million tons per annum.
The acquisition includes all of Pavilion's LNG offtake and supply contracts, regasification capacity, and LNG bunkering business.
The integration of Pavilion Energy assets into Shell portfolio will begin immediately, which is expected to increase annual sales between 4% and 5% through 2030, the company said.
It added that the deal did not include Pavilion Energy's pipeline gas unit in Singapore, which was transferred to the Temasek subsidiary Gas Supply. Additionally, Pavilion's 20% interest in blocks one and four in Tanzania were also not part of the transaction.
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