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.
