Nebula Energy Acquires Majority Stake in AG&P LNG for $300M

Wednesday, January 31, 2024

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.  

Categories: LNG Mergers & Acquisitions Industry News Activity Asia North America

Related Stories

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

CNOOC Starts Production at Offshore Field in South China Sea

Fugro Lands Deepwater Gas Field Job in Southeast Asia

Japan and South Korea Look to Partner Up with US for Alaska Pipeline

Current News

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com