Pavilion Energy inks charter agreement for new BW vessels

It will hire two liquified natural gas (LNG) carriers to boost global trading expansion.

Temasek-owned Pavilion Energy agreed to charter two newly built liquified natural gas carriers (LNGCs) from global energy maritime firm BW group (BW) to bolster Pavilion’s performance in long-haul trades for fossil fuel.

The 173,400 m3 M-type, electronically controlled gas injection (MEGI) vessels are scheduled for delivery between 2019 and 2020 and will boost Pavilion Energy’s global portfolio and LNG trading expansion.

The new hires will add to Pavilion Energy’s existing fleet which includes two Singaporean-flagged LNG newbuilds, the BW Pavilion Vanda and BW Pavilion Leeara.

“This will reinforce our already strong Asian LNG supply and trading strategy to connect markets and supplies regionally and globally,” Pavilion Energy’s CEO Frédéric Barnaud said in a statement.

Pavilion Energy was set up in 2013 by Temasek Holdings and it formed a joint venture with BW in 2014 to acquire, manage and charter maritime LNG assets.