Nebula Energy, a U.S.-based asset management company focused on liquefied natural gas (LNG), has acquired majority stake in AG&P LNG for $300 million.
With operational headquarters in the UAE, AG&P LNG will now operate as an independent subsidiary of Nebula Energy with key offices in UAE, Singapore, India, Vietnam, and Indonesia.
Peter Gibson has been appointed as Chairman, Sam Abdalla as Vice Chairman while Karthik Sathyamoorthy will continue to remain the CEO of AG&P LNG.
AG&P LNG accelerates the adoption of downstream LNG infrastructure and logistics networks, bridging the gap between infrastructure/logistics and demand.
"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,” said Karthik Sathyamoorthy, CEO, AG&P LNG.
"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 recognized as the critical fuel to profoundly reduce carbon emissions,” added Peter Gibson, Chairman, Nebula Energy.
AG&P LNG, subsidiary of AG&P Group, is part-owned by Osaka Gas, JBIC (the Japan Bank of International Cooperation) and Asiya, a publicly traded Kuwait fund.
It has a substantial growth pipeline with a total of six LNG terminals in development with proposed capacity of 25 MTPA across several international growth projects.
Of its LNG terminal project portfolio, AG&P LNG is the operator of the first LNG import and regasification terminal in the Philippines, called the Philippines LNG (PHLNG) Import Terminal located in Batangas Bay.
Subscribe
