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Pavilion to buy Iberdrola’s LNG assets
INVESTMENT
The transaction includes long-term regasi cation of around 2 million tpy at the Grain LNG terminal in the UK.
SINGAPORE-BASED Pavilion Energy announced on June 20 that its wholly owned sub- sidiary had struck a deal to buy Spanish utility Iberdrola’s portfolio of LNG assets. Pavilion did not disclose the price it was paying for the assets, which a spokeswoman attributed to “commercial reasons”, but Iberdrola said in a statement that it would receive 115 million euros (US$130 mil- lion) from the Singaporean company.
e assets being sold include 4 million tonnes per year (tpy) of Iberdrola’s long-term LNG sale and supply contracts, and long-term regasi ca- tion of around 2 million tpy at the Grain LNG terminal in the UK. ey also include regasi - cation access in Spain, capacity on a pipeline between Spain and France and the time-charter of a new M-type, Electronically Controlled, Gas Injection (MEGI) LNG vessel.
e companies have also concluded a sales agreement for Pavilion to supply gas to subsid- iary Iberdrola Generacion Espana in a related deal.
The acquisition is due to close by Janu- ary 1, 2020.
“Building on Pavilion Energy’s success in Singapore and in the Asia-Pacific Basin, this acquisition brings us a portfolio of prime assets primarily in Europe and the Atlantic Basin,” said Pavilion’s CEO, Frederic Barnaud. “Today is a critical step towards our vision to be a leading global LNG player, leveraging our LNG portfo- lio with deep access to strategic gas markets in Singapore, Spain, and the UK, combined with sophisticated optimisation and risk management skills,” he added.
Pavilion was launched in 2013 by Sin- gapore’s sovereign wealth fund, Temasek Holdings. The company is focused on LNG-related investments, and supplies one third of Singapore’s industrial requirements for natural gas. This includes supplying the power generation, petrochemical, manufac- turing, pharmaceutical, and biotechnology sectors.
Iberdrola is one of the world’s largest utili- ties by market capitalisation, with operations focused mainly on Spain, the UK, the US, Brazil and Mexico.™
AFRICA
BMT supports Mozambique FLNG project
Industry leading mooring solutions supplier, SOFEC, has selected BMT and Sonardyne, under their teaming agreement, to supply an innovative mooring monitoring system (MMS) for a major new deepwater development.
e new system will involve monitoring
of the turret mooring system on a new-
build oating lique ed natural gas (FLNG) facility being built in South Korea for ENI’s Coral South project o shore Mozambique. With water depths ranging from 1,500-2,300 metres, SOFEC, a MODEC Group company, wanted to integrate a robust and reliable MMS to complement their market leading turret mooring solution.
SOFEC chose to use BMT and Sonardyne’s combined engineering strength in order to acquire the most technically competent and robust MMS. eir selection was based on
NEWS IN BRIEF
high data availability, ease of remote operated vehicle (ROV) installation, robustness of
the subsea technology and the longevity between maintenance periods that the BMT / Sonardyne MMS o ers, compared with other solutions in the market.
Above the waterline, BMT will supply the station-keeping turret monitoring system and local control panel with touchscreen interface. e control panel will also house Sonardyne’s topside equipment, to minimise the system’s footprint. Additionally, the system will allow SOFEC’s client to gain remote data access through BMT’s secure cloud-based portal, BMT DEEP.
Below the waterline, Sonardyne’s SMART (Subsea Monitoring, Analysis and Reporting Technology) will be used to constantly monitor mooring integrity on each of the
20 anchor legs. Daily summary reports and automatic fault detections will be wirelessly communicated to the surface from the SMARTs real-time.
BMT, June 18, 2019
AMERICAS
Sempra takes steps to
apply for Port Arthur LNG
expansion
Sempra Energy has started the process for ling an application for a two-train expansion at its Port Arthur LNG export terminal, which is planned for the Texas coast.
Last week, the company submitted a request to the US Federal Energy Regulatory Commission (FERC) to begin the pre- ling process for Phase 2 of Port Arthur LNG.
e expansion would increase the facility’s capacity by 13.5 million tonnes per year (tpy) to 27 million tpy.
e FERC approved construction of the initial two-train project in April.
Sempra expects to le its o cial application for Phase 2 in January 2020, according to the request. It anticipates making a nal investment decision (FID) in May 2021.
Sempra is also developing the three-train,
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Week 24 20•June•2019