Shell to Buy Pavilion Energy to Boost Asia Presence, LNG Position
By Christian Moess Laursen
Shell has signed a deal to buy Pavilion Energy for an undisclosed sum as the British energy giant solidifies its position as the world's biggest trader of liquefied natural-gas.
Shell said Tuesday that it will add 6.5 million metric tons of long-term sale and supply LNG contracts to its portfolio through the acquisition.
Pavilion is headquartered in Singapore and is owned by state investment company Temasek Holdings. The deal makes Shell the biggest supplier of LNG to the city state, as it already supplies a quarter of Singapore's natural-gas needs.
The deal is expected to be completed in the first quarter of next year.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
June 18, 2024 02:46 ET (06:46 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations