Pavilion Energy Imports Carbon Neutral LNG Cargo
Pavilion Energy Singapore Pte. Ltd. has announced that it has imported a carbon neutral LNG cargo into Singapore, a first for the company and the country, Pavilion Energy highlighted.
Carbon emissions associated with the LNG cargo from well to tank - including the extraction, production, transportation, and regasification - will be offset by retiring a corresponding amount of carbon credits sourced from the company’s portfolio of carbon offset projects, Pavilion Energy revealed.
The carbon credits used for the offset are from Natural Climate Solutions projects certified under the Verified Carbon Standard (VCS) and Climate, Community and Biodiversity Standard (CCB), Pavilion Energy noted. The projects - Evio Kuinaji Ese’Eja Cuana in Peru and Liangdu Afforestation in China - focus on the protection and restoration of forests and promote co-benefits through supporting local communities and protecting biodiversity, the company outlined.
“This carbon neutral cargo is another important milestone for Pavilion Energy in our ambition to provide cleaner energy and develop our carbon trading activities,” Frédéric H. Barnaud, the group chief executive officer of Pavilion Energy, said in a company statement.
“Our aim is to support our customers in their transition towards a lower carbon future with solutions to meet their climate targets and potential regulatory requirements,” he added in the statement.
A wholly owned subsidiary of Temasek, Pavilion Energy, which is headquartered in Singapore, conducts natural gas supply and marketing activities in southeast Asia and Europe, and global LNG trading, shipping, and optimization activities, according to its website.
In February this year, Pavilion Energy Trading & Supply Pte. Ltd. and Chevron U.S.A. Inc (Singapore Branch) signed a six year LNG sale and purchase agreement for the supply of approximately 0.5 million tons of LNG per year to Singapore from 2023. To promote increased sustainability and transparency in the LNG value chain, each LNG cargo delivered under the agreement will be accompanied by a statement of its greenhouse gas emissions measured from wellhead to discharge port, Pavilion Energy noted.
In November 2020, Pavilion Energy Trading & Supply Pte. Ltd. and QP Trading LLC signed a ten year LNG sale and purchase agreement for the supply of up to 1.8 million tons of LNG per year to Singapore from 2023. Each LNG cargo delivered under this agreement will also be accompanied by a statement of its greenhouse gas emissions measured from well to discharge port.
To contact the author, email andreas.exarheas@rigzone.com
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea