Temasek-owned Pavilion Energy has signed an agreement with energy shipping giant BW Group for the long-term charters of two liquefied natural gas carriers (LNGCs), which will bolster its capacity for long-haul trades between the Atlantic and Asia-Pacific regions.
The pair of LNGCs, to be built with engines boasting lower carbon footprints, are scheduled for delivery between next year and 2020. The long-term charters are expected to run for more than 10 years.
The new LNGCs will double Pavilion Energy's charter-in fleet. The LNG-focused player has on hire the BW Pavilion Vanda, while a second LNGC, BW Pavilion Leeara, is expected to join its fleet from next year.
Pavilion Energy group chief executive Frederic Barnaud said the latest development "will strengthen the group's global LNG trading activities, especially on long-haul voyages from Atlantic liquefaction plants to Singapore and Asian markets".
Keppel Infrastructure Trust
Keppel Infrastructure Trust said yesterday that Australian subsidiary Basslink "strongly rejects" the allegations by Australian state government enterprise Hydro Tasmania that its facilities did not satisfy certain operational requirements.
The dispute relates to the 2015 outage of the Basslink Interconnector cable that links the state's electricity grid to the Australian mainland.
In March this year, the Tasmanian government formally lodged a notice of dispute, claiming damages of A$122 million (S$119 million) for the outage. The dispute went to arbitration in April.
On Sept 14, Basslink issued Hydro Tasmania a notice of disputes that has since been referred to arbitration.
In yesterday's statement, Basslink said it received a fresh notice of disputes from Hydro Tasmania last Friday.
All but one of the disputes are based upon the allegations in reports that Hydro Tasmania's lawyers procured from consultants at DNV GL, Basslink said.
Based on the DNV GL reports, Hydro Tasmania has alleged that the Basslink facilities did not satisfy certain operational requirements.
"However, an independent project inspector certified that the Basslink facilities met these operational requirements and signed off on them at the commissioning of the Basslink facilities in 2006," Basslink said.