BW Group and Pavilion Energy have entered into an agreement to form a joint venture, BW Pavilion LNG, to acquire, manage and charter maritime LNG assets, including LNG carriers.
Andreas Sohmen-Pao, BW Group CEO, says: “We look forward to a long-term partnership with Pavilion Energy, leveraging our experience in the maritime LNG value chain and our long-established talent base in Singapore to develop opportunities in the sector.”
Seah Moon Ming, Group CEO of Pavilion Energy, says: “The partnership with BW Group represents our expansion into LNG shipping, and an investment into a critical part of the LNG value chain which enables Pavilion Energy to effectively connect global LNG supplies to regional gas demand centres in Asia.”
The JV builds upon the resources and track record of BW in LNG with an important new LNG player in Pavilion Energy. It represents each organisation’s strong commitment to provide customers with high quality LNG shipping as well as tailored gas infrastructure solutions. The JV’s assets will initially be established with one existing and two new LNG carriers.
[mappress] Press Release, May 23, 2014; Image: BW Group