Temasek sets up energy firm to tap rising demand [News]
By TODAY, 6 Apr 2013.
Temasek Holdings has set up an energy company to tap Asia’s growing energy demand.
Pavilion Energy will have an initial authorised capital of S$1 billion and should be operational by September.
The company noted that as the region’s economies continue to transform and urbanise, the demand for clean energy, especially liquefied natural gas (LNG), is expected to increase. According to the International Energy Agency, the global use of gas will rise 50 per cent by 2035 from 2010 levels.
Pavilion said it will look to partner with energy industry leaders and players to meet the region’s growing gas needs. It may also co-invest alongside Temasek, which has been stepping up its investments in the energy and resource sectors over the last few years.
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