Temasek Holdings Pte Ltd, the sovereign wealth fund of Singapore has set up a new investment unit focused on liquefied natural gas (LNG), in order to tap into the growing demand in Asia, led by the region's three largest LNG consumers - Japan China and India.
Temasek has earmarked an initial invewstment of S$1 billion ($806 million) as authorised capital of the investment unit, Energy Pte.
The company will begin operations in September this year and will be headed by technology entrepreneur and innovator Seah Moon Ming, who joined Temasek last month as senior managing director, special projects, from ST Engineering, where he was deputy CEO.
Hassan Marican, former CEO of Malaysian state-owned oil company Petronas, has been entrusted with the the job of chairman. Full story
Related:
- Temasek Establishes Pavilion Energy Pte Ltd - International Venture Capital Post
- Temasek Holdings sets up new unit to invest in LNG - Global Times
- Former Petronas chief named chairman of energy company - The Malaysian Insider
- Ex-Petronas president made chairman of Temasek's energy unit - Malaysia Star
