Pavilion Energy, Gasum and CNOOC Gas and Power Group today announced the signing of a Heads of Agreement (HoA) for strategic collaboration to strengthen a global LNG bunker supply network for their customers in the world’s top three bunkering regions, i.e. Singapore, North West Europe (including Amsterdam, Rotterdam and Antwerp), as well as China coastal areas, according to CNOOC's release.
The agreement will allow the three parties to leverage on one another’s local expertise, strong logistics capabilities, and in-depth experience in LNG bunkering operations to bring ease, efficiency, and operational flexibility across global supply points to customers. The HoA aims to establish central links across the West and East in key LNG-bunker ready ports that include the Baltic and North Sea ECA (North West Europe); key Chinese ports such as Shenzhen, Guangzhou and Ningbo; as well as Singapore.
This agreement follows an extension of Pavilion Energy’s partnership with Gasum in October 2020 to develop an LNG bunker supply network for both its customers in Singapore and Northern Europe. CNOOC’s latest participation will boost this industry alliance and further encourages the uptake of LNG as a cleaner marine fuel, in line with the maritime industry’s decarbonisation efforts, as well as the International Maritime Organisation’s agenda to reduce greenhouse gas emissions.
Pavilion Energy is a pioneer in developing LNG bunkering for the maritime industry in Singapore and advocates for LNG as a cleaner marine fuel. Sealing this latest partnership agreement comes after a naming ceremony held on 4 October for its first dedicated LNG Bunker Vessel Newbuild – the Brassavola – and currently Singapore’s largest LNG bunker vessel for use in the Port of Singapore. It is slated for operation early next year.
As the biggest distributor of LNG in Northern Europe, Gasum is strengthening the position of LNG in North West Europe and the Nordics, in accordance with the EU strategy for LNG. In 2021 Gasum performed over 1,300 ship-to-ship and truck-to-ship deliveries of LNG through its complete value chain which serves the distribution of both liquefied natural gas and liquefied biogas (LBG).
As the largest LNG importer in China, CNOOC Gas and Power Group has created a fully integrated LNG industry chain into China, directly connecting upstream resources, transportation and trading with downstream natural gas customers. The company has also taken several firm steps to build international LNG bunkering infrastructures alongside China’s coastal areas and is committed to providing integrated bunker solutions for global customers.
Pavilion Energy is a wholly-owned subsidiary of Temasek. Headquartered in Singapore, its global energy business encompasses natural gas supply and marketing activities in South-East Asia and Europe; and global LNG trading, shipping and optimisation; as well as energy hedging and financial solutions.
Gasum is a Nordic gas sector and energy market expert. Gasum offers cleaner energy and energy market expert services for industry and for combined heat and power production as well as cleaner fuel solutions for road and maritime transport.
CNOOC Gas and Power Group is a wholly-owned subsidiary of China National Offshore Oil Corporation, its fully integrated natural gas business encompasses LNG terminal operation, natural gas plants, natural gas pipelines management, LNG trading and LNG bunkering globally. At present, relying on China’s sea port groups and world’s shipping hubs, CNOOC Gas and Power Group explores the establishment of a global bunkering supply network.