22/02/2021 - 15:16

From Chevron with carbon certificates

22/02/2021 - 15:16

Bookmark

Save articles for future reference.

Singaporean business Pavilion has committed to buy 3 million tonnes of LNG from Chevron in a deal with strict carbon reporting requirements.

From Chevron with carbon certificates
Frédéric Barnaud (left) from Pavilion Energy, and Law Tat Win from Chevron's Singaporean office sign a deal. Photo: Chevron

Singaporean business Pavilion has committed to buy 3 million tonnes of LNG from Chevron in a deal with strict carbon reporting requirements.

Pavilion Energy Trading & Supply is wholly owned by government investment company Temasek Holdings.

The company will buy 500,000 tonnes of LNG a year from Chevron for six years from 2023.

Most of that will come from Australian sources, particularly Gorgon.

In November, Pavilion signed a deal with Qatar Petroleum for 1.8mtpa of LNG for 10 years from 2023.

That was helpful for the middle eastern nation in its plans to dramatically increase LNG production.

Both the Qatar deal and Chevron deal had strict reporting requirements around greenhouse emissions.

All greenhouse emissions from wellhead to deliver will be measured and reported, under the requirements of the tenders.

Pavilion has said it hopes to co-develop a reporting methodology for emissions from LNG production, and reportedly intends to eventually make the purchases carbon neutral.

Chief executive Frederic H Barnaud said Pavilion was proactively promoting offsets and emission reductions.

“I am confident that a bold, ambitious and uncompromising industry collaboration will boost our own efforts towards achieving a meaningful impact,” Mr Barnaud said.

Chevron Singapore country chair Law Tat Win said the supermajor embraced a lower carbon future.

“I am excited that Chevron will be partnering with Pavilion Energy to develop processes and tools which will enable us to offer lifecycle carbon footprinted products to the market in Singapore,” Mr Law said.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options