Total in 10-Year LNG Bunkering Pact with Pavilion
Temasek-owned Pavilion Energy has signed a 10-year fully-termed agreement to jointly develop an LNG bunker supply chain in the port of Singapore with Total Marine Fuels Global Solutions (TMFGS), a subsidiary of French energy conglomerate Total SA (TTFNF).
Global law firm Norton Rose Fulbright has advised on signing the contract.
The agreement includes the shared long-term use of 12,000 cu m LNG bunker vessel (LNGBV). In February this year Pavilion chartered an LNGBV newbuilding from Mitsui OSK Lines (MOL) which is currently being constructed at Sembcorp Marine (SMBMF)’s Tuas Boulevard Yard in Singapore.
Working in support of Total Marine Fuels’ in-house legal team, the Norton Rose Fulbright team on the deal was led by Singapore partner Ben Smith, and included associate William Holmden, Hong Kong partner Marc Waha and senior associate Nicolas Cassauba.
Total is the second-largest private global LNG player, with an overall portfolio of around 50 Mt/y by 2025 and a worldwide market share of 10 per cent.
Norton Rose Fulbright is one of Total’s global panel members. Its LNG expertise was considered a key factor for its successful support to Total’s in-house legal team in this project.