By Christian Moess Laursen


Shell has signed a deal to buy Pavilion Energy for an undisclosed sum as the British energy giant solidifies its position as the world's biggest trader of liquefied natural-gas.

Shell said Tuesday that it will add 6.5 million metric tons of long-term sale and supply LNG contracts to its portfolio through the acquisition.

Pavilion is headquartered in Singapore and is owned by state investment company Temasek Holdings. The deal makes Shell the biggest supplier of LNG to the city state, as it already supplies a quarter of Singapore's natural-gas needs.

The deal is expected to be completed in the first quarter of next year.


Write to Christian Moess Laursen at christian.moess@wsj.com


(END) Dow Jones Newswires

06-18-24 0246ET