MIBGAS Derivatives and Pavilion Energy Spain will renew their agreement in which Pavilion Energy Spain provides a market maker service for LNG products traded on the TVB (virtual balancing tank).
This LNG market maker agreement will be offered for the next six months and is an affirmation of Pavilion Energy Spain’s commitment to the development of a liquid LNG market in Spain. By ensuring the continuous presence of LNG offers on the trading screen, progress is being made on the creation of a robust LNG market in south-western Europe, taking advantage of the strategic position of the Iberian market and capitalising on all the potential of its infrastructure: six regasification plants in Spain and the existence of a single virtual tank (TVB) for the trading of LNG.
MIBGAS has a total of 159 registered agents, and its platform covers natural gas spot products including monthly (M+1), while MIBGAS Derivatives -a subsidiary of MIBGAS- trades natural gas physical futures, spot products in underground storage and LNG spot products. It also offers the service of registering bilateral OTC transactions. MIBGAS is also the Guarantee Manager of the Spanish gas system.
About Pavilion Energy
Pavilion Energy is a wholly-owned subsidiary of Temasek. Headquartered in Singapore, its global energy business encompasses natural gas supply and marketing activities in South-East Asia and Europe; and global LNG trading, shipping and optimisation; as well as energy hedging and financial solutions.
Pavilion Energy has also been a pioneer by developing LNG bunkering for the maritime industry and by promoting greenhouse gas emissions reduction and carbon offsets in the LNG value chain. As an advocate for LNG and natural gas as fuels of choice, we are driving energy transition efforts towards a more sustainable future for generations to come.