Singapore fund posts USD 800 million in LNG

The wealthy Singapore-based fund Temasek Holdings has set aside USD 800 million to invest in LNG for extraction, storage, handling and transportation of the natural gas.

Temasek Holdings will put USD 800 million into LNG projects through the new company Pavillion Energy. The purpose is to break into the market for natural gas, on which Asian demand is expected to rise rapidly in coming years.

Temasek Holdings already has LNG facilities in the US and could not have chosen a better time for its new investment, as the state-owned Singapore LNG Corp. (SLNG) - which is planning to build its first LNG terminal for import and delivery of the alternative fuel - has just received its first shipment of LNG

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Shipping in a safe position despite shaky world economy

Container carriers are facing a couple of difficult years, but otherwise the shipping industry looks set to do well despite dark clouds over the world economy, according to shipping analyst. ”Right now, most companies are making a lot of money.”

Less congestion makes dry bulk rates decline

Port congestion has eased, leading to a decrease in dry bulk rates. According to Clarksons, the development is not least due to low industrial production in China following Covid lockdowns.

MPA appoints new CEO

Quah Ley Hoon steps down as CEO of Maritime and Port Authority of Singapore at the beginning of September after around three and a half years on the post.

Latest news

See all jobs