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Shell and Saudi Aramco are in negotiations to buy the assets of Temasek-owned liquefied natural gas trading firm Pavilion Energy. The deal comes a decade after the Singapore state investment firm established Pavilion Energy to focus on LNG-related investments. The assets could fetch over $2 billion. Aramco believes the deal would position it as a global LNG player, aiming to boost production by over 60% from 2021 levels by 2030. Pavilion Energy supplies one-third of Singapore's power and industrial gas demand with LNG and piped natural gas. The company has invested $1.3 billion in Tanzania and gained access to Europe with its 2019 purchase of Iberdrola's LNG assets.

Saudi Aramco, Shell in final stage of Pavilion Energy talks – sources

Shell and Saudi Aramco are in negotiations to buy the assets of Temasek-owned liquefied natural gas trading firm Pavilion Energy. The deal comes a decade after the Singapore state investment firm established Pavilion Energy to focus on LNG-related investments. The assets could fetch over $2 billion. Aramco believes the deal would position it as a global LNG player, aiming to boost production by over 60% from 2021 levels by 2030. Pavilion Energy supplies one-third of Singapore’s power and industrial gas demand with LNG and piped natural gas. The company has invested $1.3 billion in Tanzania and gained access to Europe with its 2019 purchase of Iberdrola’s LNG assets.

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