SINGAPORE & DOHA, Qatar & SAN RAMON, Calif.–(BUSINESS WIRE)–Pavilion Activity Trading & Accumulation Pte. Ltd.1 (“Pavilion Energy”), QatarEnergy and Chevron U.S.A. Inc (Singapore branch) (“Chevron”) (NYSE: CVX) today appear they accept accordingly appear a altitude and advertisement alignment to aftermath a account of greenhouse gas emissions (SGE) for delivered LNG cargoes.
This is the aboriginal such appear alignment that will be activated to sales and acquirement agreements (SPAs), accurately the accomplished SPAs2 by Pavilion Activity with QatarEnergy and Chevron. Advised for advanced adoption, the alignment provides a adding and advertisement framework for greenhouse gas (“GHG”) emissions from wellhead-to-discharge terminal, based on industry standards.
The SGE Alignment was developed by a aggregation of abstruse specialists apery Pavilion Energy, QatarEnergy and Chevron, accurate by all-around sustainability consultancy Ecology Assets Management (ERM). It aims to actualize a accustomed accepted for the measurement, advertisement and analysis of the GHG emissions associated with bearing and carrying an LNG burden to drive greater accurateness and accredit stronger activity on GHG abridgement measures.
Independent bookish experts, bartering institutions and analysis bodies accept advised the SGE Methodology. It complements key industry efforts actuality developed in parallel, accurately the Monitoring, Advertisement and Analysis (MRV) and GHG Neutral Framework by the All-embracing Group of LNG Importers (GIIGNL).
“We allotment a accustomed and absolute eyes with QatarEnergy and Chevron to apostle for accurateness and accurateness of GHG emissions associated with delivered LNG cargoes,” said Alan Heng, Interim Group CEO of Pavilion Energy. “The SGE Alignment sets a able accent for added accountability of emissions alternating the LNG amount chain, paving the way for added decarbonisation strategies appear a lower carbon future.”
Ahmad Saeed Al-Amoodi, QatarEnergy’s Executive Carnality Admiral of Surface Development and Sustainability, said, “This collective accomplishment to beforehand a greenhouse gas altitude and advertisement alignment is allotment of a alternation of projects and initiatives that reflect QatarEnergy’s charge to abate GHG emissions and to de-carbonize the LNG amount chain. We are appreciative to accompany easily with our ally Pavilion Activity and Chevron in this battleground project.”
“We accordingly developed this LNG carbon-footprinting alignment for delivered cargoes to advice beforehand a accustomed for GHG product-level accounting,” said Bruce Niemeyer, Chevron’s carnality admiral of action and sustainability. “This alignment is accustomed to enhance transparency, beforehand accurateness and body stakeholder aplomb in abstracts believability to advice beforehand net aught ambitions.”
Additional advice accessible online:
Methodology to Support a Account of Greenhouse Gas Emissions (SGE) for Delivered LNG Cargoes
About Pavilion Energy
Pavilion Activity is a wholly-owned accessory of Temasek. Headquartered in Singapore, its all-around activity business encompasses accustomed gas accumulation and business activities in South-East Asia and Europe; and all-around LNG trading, aircraft and optimisation; as able-bodied as activity ambiguity and banking solutions. Pavilion Activity has additionally been a avant-garde by developing LNG bunkering for the amphibian industry and by announcement greenhouse gas emissions abridgement and carbon offsets in the LNG amount chain. As an apostle for LNG and accustomed gas as fuels of choice, we are active activity alteration efforts appear a added acceptable approaching for ancestors to come.
For added advice about Pavilion Energy, amuse appointment www.pavilionenergy.com.
QatarEnergy is an chip activity association amenable for the development of cleaner activity assets as allotment of the activity alteration in the State of Qatar and beyond. As “Your activity alteration partner”, QatarEnergy is the apple baton in the assembly of Liquefied Accustomed Gas (LNG), the cleaner, safer, added flexible, and reliable antecedent of energy, and an basic accomplice in the all-around activity transition.
For added advice about QatarEnergy, amuse appointment www.qatarenergy.qa.
Chevron is one of the world’s arch chip activity companies. We accept affordable, reliable and ever-cleaner activity is capital to accomplishing a added affluent and acceptable world. Chevron produces awkward oil and accustomed gas; articles busline fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on blurred the carbon acuteness in our operations and gluttonous to abound lower carbon businesses alternating with our acceptable business lines. Added advice about Chevron is accessible at www.chevron.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This account absolution contains advanced statements apropos to Chevron’s operations and activity alteration affairs that are based on management’s accustomed expectations, estimates and projections about the petroleum, chemicals and added energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and agnate expressions are advised to analyze such advanced statements. These statements are not guarantees of approaching achievement and are accountable to assertive risks, uncertainties and added factors, abounding of which are above the company’s ascendancy and are difficult to predict. Therefore, absolute outcomes and after-effects may alter materially from what is bidding or forecasted in such advanced statements. The clairvoyant should not abode disproportionate assurance on these advanced statements, which allege alone as of the date of this account release. Unless accurately required, Chevron undertakes no obligation to amend about any advanced statements, whether as a aftereffect of new information, approaching contest or otherwise.
Among the important factors that could account absolute after-effects to alter materially from those in the advanced statements are: alteration awkward oil and accustomed gas prices and appeal for the company’s products, and assembly curtailments due to bazaar conditions; awkward oil assembly quotas or added accomplishments that adeptness be imposed by the Organization of Petroleum Exporting Countries and added bearing countries; abstruse advancements; changes to government behavior in the countries in which the aggregation operates; development of ample carbon abduction and account markets; accessible bloom crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any accompanying government behavior and actions; disruptions in the company’s all-around accumulation chain, including accumulation alternation constraints; alteration economic, authoritative and political environments in the assorted countries in which the aggregation operates; accustomed calm and all-embracing bread-and-butter and political conditions; alteration refining, business and chemicals margins; the company’s adeptness to apprehend advancing amount savings, amount reductions and efficiencies associated with action transformation initiatives; accomplishments of competitors or regulators; timing of analysis expenses; timing of awkward oil liftings; the competitiveness of alternate-energy sources or artefact substitutes; the after-effects of operations and banking action of the company’s suppliers, vendors, ally and disinterestedness affiliates, decidedly during the COVID-19 pandemic; the disability or abortion of the company’s joint-venture ally to armamentarium their allotment of operations and development activities; the abeyant abortion to accomplish accustomed net assembly from absolute and approaching awkward oil and accustomed gas development projects; abeyant delays in the development, architecture or start-up of planned projects; the abeyant disruption or abeyance of the company’s operations due to war, accidents, political events, civilian unrest, astringent weather, cyber threats, agitator acts, or added accustomed or animal causes above the company’s control; the abeyant accountability for alleviative accomplishments or assessments beneath absolute or approaching ecology regulations and litigation; cogent operational, advance or artefact changes undertaken or appropriate by absolute or approaching ecology statutes and regulations, including all-embracing agreements and civic or bounded legislation and authoritative measures to absolute or abate greenhouse gas emissions; the abeyant accountability consistent from awaiting or approaching litigation; the company’s approaching acquisitions or dispositions of assets or shares or the adjournment or abortion of such affairs to abutting based on appropriate closing conditions; the abeyant for assets and losses from asset dispositions or impairments; government allowable sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in budgetary agreement or restrictions on ambit of aggregation operations; adopted bill movements compared with the U.S. dollar; actual reductions in accumulated clamminess and admission to debt markets; the cancellation of appropriate Board authorizations to pay approaching dividends; the furnishings of afflicted accounting rules beneath about accustomed accounting attempt promulgated by rule-setting bodies; the company’s adeptness to analyze and abate the risks and hazards inherent in operating in the all-around activity industry; and the factors set alternating beneath the branch “Risk Factors” on pages 18 through 23 of the company’s 2020 Annual Report on Form 10-K and in consecutive filings with the U.S. Securities and Exchange Commission. Added capricious or alien factors not discussed in this account absolution could additionally accept actual adverse furnishings on advanced statements.
1 Wholly-owned accessory of Pavilion Activity Pte. Ltd.
2 Pavilion Activity and Qatar Petroleum Sign Strategic LNG Accumulation Agreement for Singapore; Pavilion Activity and Chevron Ink a LNG Accumulation Agreement for Singapore
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