Singapore-based Pavilion Energy Private Limited and BP Public Limited Company have signed a 10-year contract for the sale and purchase of LNG starting in 2024. Under the terms of the sale and purchase agreement (SPA), BP’s Singapore unit will deliver 0.8 million tonnes of LNG annually. The value of the contract has not been disclosed.
Pavilion and BP will also collaborate to create and adopt a greenhouse gas measurement and reporting approach as part of the agreement. Emissions from the wellhead to the discharge terminal will be monitored under this methodology.
Singapore is looking to diversify its gas supplies as its long-running piped-gas agreement with Indonesia is due to expire starting 2023.