Uniper Global Commodities, a unit of Uniper, has signed an agreement with Pavilion Gas of Singapore to provide each other access to its LNG asset base and associated flexibility from the assets.
Under the multi-year agreement, Uniper gains access to Singapore storage and reload facility while Pavilion Gas, a unit of Pavilion Energy, is able to access LNG regasification capacities at the Gate LNG terminal in Rotterdam and the Grain LNG terminal in the United Kingdom, according to a joint statement.
As a result, Uniper would benefit from getting access to LNG assets in the Asian market while Pavilion gas will be able to access the UK and Continental Europe gas markets.
Both companies noted the deal will enhance the flexibility within their portfolios, and create further LNG logistics optimization abilities for both companies between Atlantic and Pacific basin.
Both companies will be looking to co-operate further in different areas of energy trading.