Shell, Saudi Aramco in price talks over Pavilion Energy asset acquisition

📆 7/4/2024 20:44:00
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Price negotiations between Shell and Saudi Aramco intensify as they compete for Pavilion Energy assets in the lucrative LNG market.

Pavilion Energy asset sale triggers price talks between Shell and Saudi Aramco. / Photo: Reuters

The potential sale comes a decade after the Singapore state investment firm set up Pavilion Energy to focus on LNG-related investments.Pavilion Energy, Temasek, Shell and Barclays, which is advising Temasek, all declined to comment. Saudi Aramco, whose gas unit is overseeing its negotiations, did not respond to a request for comment.

LNG trading accounted for nearly a third of Shell's profit in the fourth quarter of last year, The company, the world's largest LNG trader, has operations worldwide that allow it to benefit from regional shifts in demand and pricing.Shell has said it believes gas and LNG will play a critical role in the energy transition by replacing more polluting coal in power plants.

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