Nebula Energy acquires majority stake in AG&P LNG

Florida-based investment, development, and asset management company Nebula Energy has acquired a majority stake in liquefied natural gas (LNG) terminal and downstream infrastructure company AC&P LNG, a subsidiary of the AG&P Group.

Under terms of the deal, AG&P LNG will operate as an independent subsidiary of Nebula Energy, with key offices in the UAE, Singapore, India, Vietnam, and Indonesia.

AG&P has many projects in Asia and holds a substantial growth pipeline with a total of six LNG terminals in development, with a proposed capacity of 25 million tonnes per annum across several international growth projects.

The company is also the operator of the first LNG import and regasification terminal in the Philippines, the Philippines LNG Import Terminal in Batangas Bay.

With Nebula Energy as a majority shareholder, Karthik Sathyamoorthy, CEO of AG&P, said the new equity will accelerate the deployment of its LNG infrastructure ecosystem for downstream markets.

He continued, “With this partnership, AG&P 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 for people across south and southeast Asia.”

With the transaction, 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.

Gibson commented, “This partnership comes at a time of a new cycle of LNG supply and growing demand for LNG in Asian markets, where LNG is being increasingly recognised as the critical fuel to 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.”

According to data and analytics firm GlobalData, Asia will continue to dominate the global LNG regasification capacity additions, contributing around 70% of the total capacity additions between 2023 and 2027.

The same data revealed that Asia is expected to witness the highest capacity additions globally, gaining a total capacity of 22.7 trillion cubic feet from new build and expansion projects during the outlook period.

GlobalData identifies India, a region where AG&P has an office, as the second-highest contributor to the Asia LNG regasification capacity additions, accounting for about 22% of the capacity additions by 2027.

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