SINGAPORE, June 18 Reuters Singapore39;s global investment company Temasek said on Tuesday it has agreed to sell 100 of its shares in liquefied natural gas LNG trading firm Pavilion Energy to Shell.

The announcement confirmed a Reuters39; report last Thursday saying Temasek was finalising the Pavilion Energy sale to Shell in the coming days in a deal worth hundreds of millions of U.S. dollars.

Temasek did not disclose financial details of the sale in the statement.

We believe Shell is well positioned to grow Pavilion Energy39;s business and strengthen its global LNG hub in Singapore, Juliet Teo, Temasek39;s head of portfolio development group and head of Singapore market, said in the statement.

The deal will provide Shell, already the world39;s top LNG trader, with access to gas markets in Europe and Singapore as it aggressively expands its LNG footprint after raking in billions of profits last year.

The deal came just over a decade after Temasek established Pavilion Energy to address the growing demand for energy in Asia and support the energy transition.

Since 2013, Pavilion Energy has expanded from Singapore to Europe and built a portfolio including some 6.5 million tonnes per year or mtpa of LNG supply contracts from suppliers like Chevron, BP and QatarEnergy.

It also has offtake contracts from leading U.S. liquefaction facilities at Corpus Christi Liquefaction, Freeport LNG and Cameron LNG, according to the statement.

Temasek will retain its wholly owned…