SHEL - Shell To Acquire Pavilion Energy Assets From Temasek Expanding LNG Market Reach In Europe And Singapore: Report | Benzinga
Singapore-based Temasek Holdings is reportedly on the verge of sealing a deal with Shell Plc. (NYSE:SHEL) for the sale of assets from its liquefied natural gas trading firm, Pavilion Energy.
What Happened: The deal, which is expected to be finalized in the coming days, will provide Shell, the world’s leading LNG trader, with access to gas markets in Europe and Singapore. The deal’s value is estimated to be in the hundreds of millions of U.S. dollars, significantly lower than the initial asking price by Temasek, Reuters reported, citing two sources with knowledge of the matter.
The Pavilion Energy asset sale will exclude Gas Supply Pte Ltd, which holds a license to import natural gas from Indonesia via pipeline, due to energy security concerns.
Temasek had put the Singapore-based trader up for sale after Pavilion Energy turned a ...