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buy high sell low how to undisclosed

https://www.straitstimes.com/busine...vilion-energy-to-shell-for-undisclosed-amount SINGAPORE - Shell has agreed to buy Singapore liquefied natural gas (LNG) company Pavilion Energy from global investment company Temasek in a move the oil major said will strengthen its leadership position in LNG, according to statements on June 18. The announcement confirmed a Reuters’ report on June 13 saying Temasek was finalising the Pavilion Energy sale to Shell in the coming days in a deal worth hundreds of millions of US dollars. Shell and Temasek did not disclose financial details of the sale in the statement. Shell said the acquisition will be absorbed within its cash capital expenditure guidance, which remains unchanged. “The deal is in excess of the internal rate of return hurdle rate for Shell’s integrated gas business, delivering on its 15-25 per cent growth ambition for purchased volumes, relative to 2022,” Shell said in its statement. Shell plans to expand its LNG business by 20 per cent to 30 per cent by 2030, compared with 2022, and this deal is expected to help deliver these targets, it added. Shell expects global demand for LNG to rise by more than 50 per cent by 2040 as coal-to-gas switching gathers pace in China, South Asian and South-east Asian countries. “We believe Shell is well positioned to grow Pavilion Energy’s business and strengthen its global LNG hub in Singapore,” Ms Juliet Teo, Temasek’s head of portfolio development group and head of Singapore market, said in the statement. The deal will provide Shell, already the world’s top LNG trader, with access to gas markets in Europe and Singapore as it aggressively expands its LNG footprint after raking in billions of profits last year. Shell’s integrated gas and upstream director ZoeYujnovich said that the purchase will bring material volumes and additional flexibility to its global portfolio. The deal comes just over a decade after Temasek established Pavilion Energy to address the growing demand for energy in Asia and support the energy transition. Since 2013, Pavilion Energy has expanded from Singapore to Europe and built a portfolio that includes some 6.5 million tonnes per year of LNG supply contracts from suppliers like Chevron, BP and QatarEnergy. It also has offtake contracts from leading US liquefaction facilities at Corpus Christi Liquefaction, Freeport LNG and Cameron LNG, according to the statement. Temasek, however, will retain its wholly-owned unit Gas Supply, which imports piped natural gas from South Sumatra in Indonesia, the statement showed. Sources said earlier this is due to energy security concerns. Pavilion Energy’s pipeline gas contracts with customers in the power sector are also not part of the transaction and will be novated to GSPL, prior to completion, according to the statement. Moreover, Pavilion Energy’s 20 per cent interest in Blocks 1 and 4 in Tanzania will not be included in the deal. The transaction is expected to complete by the first quarter of next year, subject to regulatory approvals, the statement said. Pavilion will continue to operate as a separate and independent business until the transaction is completed, according to a Temasek spokesperson. REUTERS

nice

That day i Q 20 min. Must go about 1040am before either younger staff go for lunch.