Pavilion Energy and Singapore LNG Corporation (SLNG) have signed a five-year agreement for LNG storage and reload services at the SLNG Terminal on Jurong Island.
The agreement, which follows a competitive bid process, is the first to be signed for a term longer than two years.
The deal will give Pavilion Energy access to 180,000 cubic metres of tank capacity at the SLNG Terminal which will support a higher volume of LNG trading activities, including LNG breakbulk and vessel cool-down services.
Mr Tan Soo Koong, CEO of SLNG, commented: ‘SLNG is happy to extend our cooperation with Pavilion Energy through this longer term Storage and Reload Services agreement. SLNG has taken bold steps to develop infrastructure and create new service offerings to meet the needs of the industry, and we will continue to do so.
‘We are primed to play our part in helping Singapore achieve its ambition of becoming an LNG hub, through catalysing LNG-related businesses such as LNG trading, small-scale LNG distribution, LNG bunkering, and more.’
Last December, Pavilion Energy and Total Marine Fuels Global Solutions (TMFGS) signed a 10-year agreement to jointly develop an LNG bunker supply chain at the Port of Singapore.
This agreement followed a Heads of Agreement signed by both companies in June 2018. The cooperation includes the shared long-term use of a 12,000 cubic metre (cbm) GTT Mark III Flex membrane LNG bunker vessel (LNGBV) that will allow each company to supply LNG bunkers to its respective customers.