Page 6 - AsianOil Week 09 2021

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Pavilion, Chevron sign LNG supply deal

PROJECTS & SINGAPORE’S Pavilion Energy announced this methodology. It appears that both the QP and
COMPANIES week that it had signed a six-year sale and pur- Chevron deals have resulted from this tender.
chase agreement (SPA) with Chevron, covering In a February 22 statement, Pavilion said it
the delivery of 500,000 tonnes per year (tpy) of was now developing the methodology for quan-
LNG to the Asian city-state from 2023. tification and reporting of GHG emissions along
Pavilion noted that each cargo of LNG sup- with its partners.
plied under the agreement would be accom- “As we proactively promote GHG emissions
panied by a declaration of its greenhouse gas reduction and offsets, we are thrilled to be joined
(GHG) emissions, measured “from wellhead to by Chevron,” commented Pavilion’s group CEO,
discharge port”. This follows a similar 10-year Frédéric Barnaud. “I am confident that a bold,
deal involving the reporting of GHG emissions ambitious and uncompromising industry col-
that Pavilion struck with Qatar Petroleum (QP) laboration will boost our own efforts towards
in November. achieving a meaningful impact,” he said.
Pavilion, which is owned by Singapore state- Chevron, for its part, said it was embracing a
owned investment company Temasek Holdings, low-carbon future.
has previously stated its desire to eventually inte- The deal comes as the idea of carbon-neutral
grate carbon neutral LNG into its portfolio. The LNG is slowly taking off against the backdrop of
company is gradually moving towards this goal, the accelerating energy transition. Royal Dutch
having called in April 2020 for offers to jointly Shell has led the way in shipping a handful of
develop a quantification and reporting method- carbon-neutral LNG cargoes, and it increas-
ology for emissions. ingly looks as though other companies are keen
At the time, Pavilion opened up bidding to do the same. Some have expressed concern,
comprised of three components – supply of up though, that the higher cost of carbon-neutral
to 2mn tpy of LNG for Singapore, ideas for GHG cargoes could be a deterrent to more widespread
emissions reduction and collaboration on the adoption.™

FPC-led group bids for Shell’s

stake in Philippine gas field

FINANCE & A group of companies, led by Hong Kong-based follow all of the terms of reference... but since we
INVESTMENT First Pacific Co. (FPC), has submitted an offer for have requested our due diligence, it covered cer-
Royal Dutch Shell’s 45% stake in the Philippines’ tain things. So, we made our offer. It’s up to Shell
largest natural gas field. to conclude whether those terms are acceptable
FPC CEO and managing director Manuel to them or not.”
V Pangilinan said on March 1 that the group, Malampaya supplies feedstock gas for around
which includes Philex Mining and “one or two 40% of the power generated on the country’s
other banks”, had bid for the stake in the deep- main island of Luzon. While the field is expected
water Malampaya field. to run dry in the next few years, Pangilinan
“We have submitted a final non-binding offer said during a March 4 press conference that
to Shell,” Pangilinan said. “Obviously, we did not the existing infrastructure could be used in the

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