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Pavilion Energy buys Iberdrola's portfolio of LNG assets

Pavilion group CEO says the deal brings to the firm a portfolio of prime assets in Europe, Atlantic Basin

Vivienne Tay

Published Thu, Jun 20, 2019 · 09:50 PM

Singapore

TEMASEK-OWNED Pavilion Energy is acquiring Spanish energy giant Iberdrola's portfolio of liquefied natural gas (LNG) assets for 115 million euros (S$176.2 million), subject to adjustments.

According to Iberdrola's filings with Spain's National Securities Market Commission, the deal's final valuation is subject to several upward or downward adjustments stipulated in the contract, as well as the value of the transferred LNG inventory as at the closing date, expected to be Jan 1, 2020.

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