Thursday, 28 October, 2021

Pavilion Energy eyes S-E Asia markets for gas expansion

Pavilion Energy eyes S-E Asia markets for gas expansion

SINGAPORE: Singapore’s Pavilion Energy is looking to expand into South-east Asian countries such as Vietnam and Myanmar where demand for natural gas is expected to grow, its interim chief executive said on Monday.

There will be opportunities to supply natural gas to growing markets in the region that are currently dependent on domestic gas and coal, Alan Heng said in a pre-recorded speech for the annual Platts APPEC 2021 conference, report agencies.

“Some of the nearby countries such as Vietnam and even Myanmar when they reopen are possible markets we are looking to expand from Singapore,” he said.

“South-east Asia is a hotspot for energy transition ... there are great opportunities in solar, wind, geothermal in some of the neighbouring countries, but there is still a need for gas.”

Pavilion, a wholly-owned subsidiary of Singapore’s state investor Temasek Holdings, is working with authorities in Singapore to strengthen the country’s gas supply network as the city-state develops its renewables infrastructure, he said.

Pavilion, which has a liquefied natural gas (LNG) business centred around Singapore and Spain, is building an emissions business to help LNG transition to the future as countries push to meet greener targets, Mr Heng added.

It imported Singapore’s first carbon neutral LNG cargo this year where the carbon emissions linked with the cargo from well-to-tank was offset by “retiring”, or removing from the system, a corresponding amount of high-quality carbon credits sourced from its portfolio of carbon offset projects.

Meanwhile, a post-pandemic economic improvement is driving energy demand and in turn prices, Mr Heng said.