Insight
Pavilion Energy takes over Iberdrola's LNG business
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Report summary
On 20 June 2019, Iberdrola announced the sale of its long-term LNG supply portfolio to Pavilion Energy. The agreement includes Iberdrola's LNG offtake and third-party sales; regasification capacity in the UK and Spain; and an LNG vessel charter. As part of the deal, Pavilion will also supply gas to Iberdrola in Spain. It will be effective 1 January 2020. The move confirms a strategy shift at both companies. But it also reflects different ambitions and views on the market.
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