Ashurst has provided legal advice to Singapore’s Pavilion Gas Pte Ltd, a wholly-owned subsidiary of Pavilion Energy, in relation to its 10-year 0.7 million tonnes per annum (MTPA) LNG purchase agreement with Total Gas & Power Asia starting from 2018.
The LNG sale and purchase agreement was signed on 31 May 2014 and is the first publicly announced long-term LNG sale and purchase agreement for the Pavilion group.
The LNG volumes will be sourced from Total’s global LNG portfolio and represent an increase of 0.2 MTPA over the earlier agreed volume of 0.5 MPTA which Pavilion Gas first made public last year. In addition, several LNG cargoes will also be supplied to Pavilion Gas prior to 2018. The deal with Total represents an important development for Pavilion Gas.
Pavilion Energy, a Temasek portfolio company, was set up in April 2013 to invest in the global LNG supply chain with an aim of establishing itself as a preferred regional LNG player in Asia.
The Ashurst team was led by Singapore-based partner Daniel Reinbott and associate Samuel Tan.
Press Release, June 16, 2014; Image: Ashurst