Temasek to Assist in Turning Singapore into a LNG Hub

trees_sovereign_wealthEnergy security is important to the island country of Singapore. Singapore is determined to become a regional liquefied natural gas (LNG) hub. Already, Singapore is one of the world’s biggest centers for bunkering (fueling of marine vessels). Singapore’s Energy Market Authority formed the Singapore LNG Corporation to assist in building and operating Singapore’s first LNG terminal on Jurong Island. In May 2013, Singapore LNG Corporation received its initial contract cargo of LNG from BG Group Plc. Back in 2008, BG Group agreed to export LNG to the Energy Market Authority for up to 20 years.

Singapore’s SWFs – Energy and Natural Resources
On the sovereign wealth fund front, Singapore’s sovereign funds have been investing in a variety of natural gas related companies. Temasek Holdings invested heavily in companies like Clean Energy Fuels and took a stake with RRJ Capital in Cheniere Energy. Cheniere Energy is transforming the terminal facility in state of Louisiana into an export facility. Other significant investments by Temasek Holdings in the energy sector include Kunlun Energy and Repsol.

Temasek Holdings is betting big on energy, they are creating a separate company called Pavilion Gas Pte. Ltd. (previously Starlion LNG Pte. Ltd.) to manage the entity’s gas businesses and activities. Pavilion Gas will have initial paid-up capital of S$ 1.25 million. This is a separate entity from Pavilion Energy Pte. Ltd. which was brought to light in April 2013. Pavilion Energy will manage non-gas energy investments.

Pavilion Gas will be chaired by Liew Mun Leong, the former chief executive officer of CapitaLand Group. Seah Moon Ming has been appointed CEO of both Pavilion Energy and Pavilion Gas.

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