Shell, the world’s largest LNG trader, is doubling down on the sector and further boosting its liquefied natural gas business as it signed a deal to buy Singapore-based LNG trading firm Pavilion Energy. Shell said on Tuesday that its subsidiary Shell Eastern Trading Pte. Ltd. has reached an agreement with Carne Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek, to acquire 100% of the shares in Pavilion Energy.
“The acquisition of Pavilion Energy will strengthen Shell’s leadership position in LNG, bringing material volumes and additional flexibility into our global portfolio,” Yujnovich said in a statement. Integration of portfolios will begin after completion of the deal, which is expected by the first quarter of 2025, subject to regulatory approvals and fulfillment of other conditions precedent, Shell said.