Pavilion Energy, QatarEnergy and Chevron Launch GHG Reporting Methodology for Delivered LNG Cargoes

Pavilion Energy Trading & Supply Pte. Ltd.¹ (“Pavilion Energy”), QatarEnergy and Chevron U.S.A. Inc (Singapore branch) (“Chevron”) (NYSE: CVX) today announced they have jointly published a quantification and reporting methodology to produce a statement of greenhouse gas emissions (SGE) for delivered LNG cargoes.

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This is the first such published methodology that will be applied to sales and purchase agreements (SPAs), specifically the executed SPAs² by Pavilion Energy with QatarEnergy and Chevron. Intended for wide adoption, the methodology provides a calculation and reporting framework for greenhouse gas (“GHG”) emissions from wellhead-to-discharge terminal, based on industry standards.

The SGE Methodology was developed by a team of technical specialists representing Pavilion Energy, QatarEnergy and Chevron, supported by global sustainability consultancy Environmental Resources Management (ERM). It aims to create a common standard for the measurement, reporting and verification of the GHG emissions associated with producing and delivering an LNG cargo to drive greater transparency and enable stronger action on GHG reduction measures.

Independent academic experts, commercial institutions and verification bodies have reviewed the SGE Methodology. It complements key industry efforts being developed in parallel, specifically the Monitoring, Reporting and Verification (MRV) and GHG Neutral Framework by the International Group of LNG Importers (GIIGNL).

“We share a common and decisive vision with QatarEnergy and Chevron to advocate for transparency and accuracy of GHG emissions associated with delivered LNG cargoes,” said Alan Heng, Interim Group CEO of Pavilion Energy. “The SGE Methodology sets a strong tone for increased accountability of emissions along the LNG value chain, paving the way for more decarbonisation strategies towards a lower carbon future.”

Ahmad Saeed Al-Amoodi, QatarEnergy’s Executive Vice President of Surface Development and Sustainability, said, "This joint effort to develop a greenhouse gas quantification and reporting methodology is part of a series of projects and initiatives that reflect QatarEnergy’s commitment to reduce GHG emissions and to de-carbonize the LNG value chain. We are proud to join hands with our partners Pavilion Energy and Chevron in this landmark project.”

“We jointly developed this LNG carbon-footprinting methodology for delivered cargoes to help advance a standard for GHG product-level accounting,” said Bruce Niemeyer, Chevron's vice president of strategy and sustainability. “This methodology is expected to enhance transparency, improve accuracy and build stakeholder confidence in data reliability to help advance net zero ambitions.”

Additional information available online:

Methodology to Support a Statement of Greenhouse Gas Emissions (SGE) for Delivered LNG Cargoes

Executive Summary

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.

For more information about Pavilion Energy, please visit www.pavilionenergy.com.

About QatarEnergy

QatarEnergy is an integrated energy corporation responsible for the development of cleaner energy resources as part of the energy transition in the State of Qatar and beyond. As “Your energy transition partner”, QatarEnergy is the world leader in the production of Liquefied Natural Gas (LNG), the cleaner, safer, more flexible, and reliable source of energy, and an integral partner in the global energy transition.

For more information about QatarEnergy, please visit www.qatarenergy.qa.

About Chevron

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.

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¹ Wholly-owned subsidiary of Pavilion Energy Pte. Ltd.

² Pavilion Energy and Qatar Petroleum Sign Strategic LNG Supply Agreement for Singapore; Pavilion Energy and Chevron Ink a LNG Supply Agreement for Singapore

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