Pavilion Energy to place trades using Singapore LNG index
Singapore
TEMASEK-BACKED Pavilion Energy is throwing its considerable heft behind a newly formed Singapore price index for liquefied natural gas (LNG), potentially accelerating the speed of change in a sector that is already expected to evolve more rapidly than before in the coming years.
The LNG company said on Tuesday it plans to start placing trades using the Singapore LNG Index Group (Sling) in the next few years.
The weekly index is based on submissions from international LNG players who offer their assessment of LNG cargo prices. Launched with 13 traders in June this year, it now includes about 20 players - out of about 30 large LNG traders worldwide.
Singapore Exchange (SGX) is in the process of launching a Sling swap product, said Pavilion Energy CEO Seah Moon Ming. "Once this is ready, Pavilion Gas (a subsidiary of Pavilion Energy) will be keen to explore with interested counter-parties, both gas producers and/or buyers, on transacting cargoes on Sli…
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