Pavilion Energy Trading & Supply Pte. Ltd.1(“Pavilion Energy”) and Zhejiang Hangjiaxin Clean Energy Co., Ltd.2 (“Hangjiaxin”) have signed a term deal for the supply of small-scale LNG from Singapore. Under the agreement, up to 0.5 million tonnes per year (mtpa) of LNG will be delivered to Hangjiaxin from 2023.
LNG from Pavilion Energy’s portfolio of natural gas and LNG will be delivered to the 1 mtpa Jiaxing LNG Terminal in Zhejiang, China. The Jiaxing LNG Terminal will be operated by Hangjiaxin, a joint venture between city gas distributors Jiaxing Gas, the largest pipeline natural gas operator in Jiaxing, and Hangzhou Gas, the largest natural gas distributor in Zhejiang province.
“Pavilion Energy is very pleased to strengthen our partnership with Hangjiaxin with the supply of LNG from our portfolio of diverse global sources. We look forward to working closely with each other on the successful implementation of this deal,” said Mr Alan Heng, Interim Group CEO of Pavilion Energy, “Supplying small-scale LNG reinforces our commitment to enhance Singapore’s position as a regional LNG hub and support growing demand for small-scale LNG in Asia.”
Mr Sun Lianqing, CEO of Hangjiaxin Clean Energy said, “Hangjiaxin is pleased to enter this sale and purchase agreement with Pavilion Energy. The execution of this agreement will provide Hangjiaxin’s own terminal, the Jiaxing LNG Terminal, with stable LNG resources, offer Hangjiaxin’s end-users with more clean energy options in the long run, and contribute to Hangjiaxin’s dedication to the reduction of carbon dioxide emissions and achievement of carbon neutrality. We look forward to closer collaborations between the two parties, a smooth performance of the agreement, and multi-dimensional in-depth cooperation in the near future.”
Source: Hellenic Shipping News
