AG&P LNG’s growth pipeline comprises six LNG terminals currently in development with a total capacity of 25MTPA
AG&P LNG is the operator of the 5MTPA Philippines LNG import terminal. (Credit: PRNewswire/AG&P Global)
Nebula Energy has acquired majority stake in AG&P LNG, a subsidiary of AG&P Group that offers liquefied natural gas (LNG) and gas logistics and distribution solutions, for $300m.
Based in the UAE, AG&P LNG will now operate as a standalone subsidiary of Nebula Energy. It will maintain key offices in UAE, India, Singapore, Indonesia, and Vietnam.
AG&P LNG facilitates access to natural gas in emerging and expanding markets by offering infrastructure solutions.
Serving as both an owner and service provider, the company oversees the entire process, from development and financing to engineering, procurement, project management, and construction of onshore and offshore gas infrastructure.
Its growth pipeline comprises six LNG terminals currently in development.
These projects, spanning various international locations, are collectively proposed to have a capacity of 25 million metric tons per annum (MTPA). Among them is the Karaikal LNG terminal in India with a capacity of 3MTPA.
The company also operates the 5MTPA Philippines LNG (PHLNG) import terminal, which is the Southeast Asian country’s inaugural LNG import and regasification facility situated in Batangas Bay.
Its existing CEO Karthik Sathyamoorthy will continue in the same role with the company.
Sathyamoorthy said: “We are thrilled to welcome Nebula Energy as our main shareholder. The new equity will accelerate the deployment of the LNG infrastructure ecosystem for downstream markets through bridging the need for cost-effective LNG supply solutions, enabled by Nebula Energy, combined with our compelling techno-commercial solutions.
“With this partnership, AG&P LNG will singularly serve as the one-point integrated source for the rapid unlocking of near-term market demand. We are very privileged to work with Nebula Energy and make this clean energy available quickly and safely to the people across South and Southeast Asia.”
Based in the US, Nebula Energy is a fully integrated investment, development, and asset management firm specialising in the LNG and carbon capture and storage (CCS) industries.
Nebula Energy chairman Peter Gibson said: “We are excited to participate in the future of AG&P LNG and to expedite the roll-out of these vital clean energy network, including LNG terminals, storage and transportation solutions and enable the cost-effective supply of this fuel.
“This partnership comes at a time of a new cycle of LNG supply and growing demand for LNG in Asia markets where LNG is being increasingly recognised as the critical fuel to profoundly reduce carbon emissions. With AG&P LNG’s presence across high-growth geographies, we look forward to rapidly unlocking these demand-centres and facilitating reliable LNG supply sources to match the demand growth.”