Nebula Energy will be investing $300m in AG&P LNG to fast-track LNG terminal development across emerging markets in South and Southeast Asia.
AG&P LNG will now operate as an independent subsidiary of Nebula Energy with key offices in the UAE, Singapore, India, Vietnam, and Indonesia.
“With this partnership, AG&P LNG will singularly serve as the one-point integrated source for the rapid unlocking of near-term market demand,” said Karthik Sathyamoorthy, CEO of AG&P LNG.
“[We] are pleased to advise that Nebula Energy is establishing a ship owning company, Nebula Energy Shipping, where all marine assets will be owned and operated. This company will provide efficient and secure transportation services to support the expanding demand of our LNG business,” Chairman Peter Gibson added.
AG&P LNG activity is growing with six LNG terminals in development with a proposed capacity of 25 mtpa across several international growth projects. AG&P LNG is the operator of the first LNG import and regasification terminal in the Philippines, located in Batangas Bay.
The Philippines LNG import terminal offloaded its first cargo in April last year. At the time, ADNOC’s LNG carrier Ish berthed at the PHLNG Import Terminal after which it was commissioned as an FSU. The agreement to charter the vessel to AG&P was signed in 2022 and spans 11 years with the option to extend a further four years.
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