IN BRIEF: Shell completes acquisition of Pavilion Energy

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Shell PLC - London-based oil and gas exploration company - Subsidiary Shell Eastern Trading Pte Ltd completes the previously announced acquisition of 100% of the shares in Pavilion Energy Pte Ltd. The deal was announced last June. Pavilion Energy is headquartered in Singapore and operates a global liquified natural gas trading business with contracted supply volume of approximately 6.5 million tonnes per annum. The acquisition includes Pavilion Energy‘s portfolio of LNG offtake and supply contracts, regasification capacity, and LNG bunkering business, strengthening Shell’s position in the LNG market.

The acquisition will be absorbed within Shell’s cash capital expenditure guidance and helps to deliver its ambition to solidify its leading position in liquified natural gas by growing sales by 4-5% per year through to 2030. The integration of Pavilion Energy‘s assets into Shell’s global LNG portfolio will commence immediately.

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