Singapore’s Pavilion Energy Pte plans to open an office in Madrid following the purchase of Iberdrola SA’s liquefied natural gas business, a step forward in its bid to become a global energy player.
Pavilion, the Asian city-state’s homegrown LNG importer, plans to hire as many as 50 people for the Madrid office next year for front and back-office operations, including trading, chartering and risk management, and make it its HQ in Europe.
The Madrid office follows its acquisition in June of Iberdrola’s LNG supply and sales contracts, which total about four million tonnes annually, doubling PAvilion’s portfolio and giving access to European regasification terminals in Spain and the UK.
