Pavilion Inks Long-term LNG Charter Deal with BW
Singapore's Pavilion Energy has signed an agreement with commodities shipper BW Group for the long-term charter of two newly built liquefied natural gas (LNG) vessels, the company said on Monday.The 173,400 cubic meter vessels, expected to be delivered between 2019 and 2020, will add to Pavilion's global portfolio and boost its LNG trading expansion, the company said.The M-type…
RRJ to Invest $1 bln in U.S. LNG Project
Asian buyout firm RRJ Capital has increased its bet on the U.S liquefied natural gas (LNG) sector by agreeing to invest about $1 billion in convertible notes issued by Cheniere Energy Inc, the companies said in a statement on Tuesday. Hong Kong-based RRJ has the option to transfer part of the notes to Temasek Holdings, the statement said. The Singapore state investor is expected to take a "significant minority amount" of the $1 billion notes by the end of November…
BP, Pavilion Ink Long-Term LNG Deals
Pavilion to buy 0.4 mln tpy LNG from BP for 20 years. Aims to become a global LNG firm in medium to long term. Working with SGX, regional govts on LNG price marker. Singapore's Pavilion Energy said it had signed two long-term contracts to buy liquefied natural gas (LNG) for trading and supply to Asia, adding to a previous contract as the state-owned firm seeks to become a global supplier.
Private Equity Firms Double down on Venari's Offshore Drilling
Gulf of Mexico deepwater oil explorer Venari Resources LLC said on Wednesday it had raised $1.3 billion from original backers Warburg Pincus LLC, Kelso & Co, the Jordan Company and Temasek Holdings, as well as new investors. GIC, Singapore's sovereign wealth fund, and BlackRock Inc's private equity arm participated in the new round of equity commitments, joining private equity firms Warburg Pincus…
CITIC Starts Court Proceedings Against Qingdao Port Operator
China's CITIC Resources Holdings Ltd has begun court proceedings against the operator of a bonded warehouse at Quindao port as legal action ramps up following an investigation into metals financing fraud at the world's seventh busiest port. CITIC Resources said last month it had been unable to secure around 120,000 tonnes of alumina, more than half of the alumina stocks it had title to that were stored at the port pending payment by buyers and delivery.
Ex-Shell CEO Voser Joining Temasek Board
Singapore state investor Temasek Holdings said on Monday that Peter Robert Voser, former chief executive of Royal Dutch Shell, will join its board in January 2015. Voser stepped down as Royal Dutch Shell CEO in December. He is the second high-profile executive the fund has appointed since it brought in former World Bank president Robert Zoellick as a board member last year. Temasek also said that Robert Ng…
