News Formal

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

  • 📰 trtworld
  • ⏱ Reading Time:
  • 37 sec. here
  • 25 min. at publisher
  • 📊 Quality Score:
  • News: 98%
  • Publisher: 63%

Turkiye News

Turkey,Middle East,Africa

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 101. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Shocking': Saudi Aramco Posts Largest-Ever Annual Profit for a Fossil Fuel CompanyJake Johnson is a senior editor and staff writer for Common Dreams.
Source: commondreams - 🏆 530. / 51 Read more »

Industry Elites Applaud Saudi Aramco CEO for Calling Oil Phaseout a 'Fantasy'Jake Johnson is a senior editor and staff writer for Common Dreams.
Source: commondreams - 🏆 530. / 51 Read more »