Pavilion Energy Trading & Supply and bp Singapore have signed a sale and purchase agreement (SPA) for the supply of around 0.8 million tonnes of LNG per year to Singapore for 10 years from 2024.
In a statement sent to Bunkerspot today (9 June), Pavilion Energy said that the two companies have also agreed to co-develop and implement a GHG quantification and reporting methodology that will cover emissions from wellhead-to-discharge terminal and be ‘principled on mutual transparency’.
Commenting on the SPA, Frédéric H. Barnaud, Group CEO of Pavilion Energy, said: ‘This agreement further strengthens our relationship with bp as Pavilion Energy advances our strategies for a lower carbon future, beginning with GHG emissions quantification, reduction and offsets for Singapore.’
Eugene Leong, bp's country president of Singapore and CEO of trading & shipping Asia Pacific & Middle East, added: ‘bp’s ambition is to be a net zero company by 2050 or sooner and to help the world get to net zero. We are excited to enter into this agreement with Pavilion Energy not only to supply the Singapore market with LNG but also to co-develop a methodology to quantify the carbon intensity associated with the supply. We look forward to working with Pavilion Energy in implementing this innovative deal using bp’s LNG supply portfolio.’
In February, Pavilion Energy concluded an SPA with Chevron which covers the supply of around 500,000 tonnes of LNG each year to Singapore, beginning in 2023 – and this also includes an agreement to co-develop and implement a GHG quantification and reporting methodology for LNG.
In November last year, Pavilion Energy agreed a 10-year SPA with QP Trading (Qatar Petroleum) for the supply of up to 1.8 million tonnes of LNG per year to Singapore from 2023.
Pavilion Energy is one of three LNG bunker supply licence holders at the Port of Singapore – the other two being FueLNG and Total Marine Fuels (whose licence will start next year).