Nebula Energy buys majority stake in AG&P LNG for $300 million

Nebula Energy, a fully integrated investment management firm focused on LNG and CCS sectors, has acquired a majority stake in AG&P LNG, a subsidiary of AG&P Group and developer of LNG terminals and downstream infrastructure.

Courtesy of AG&P LNG

On January 31, Nebula Energy announced it is investing $300 million in AG&P LNG platform to fast-track LNG terminal development across emerging markets in South and Southeast Asia.

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.

AG&P LNG portfolio includes a total of 6 LNG terminals in development with a proposed capacity of 25 mtpa across several international growth projects.

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

Peter Gibson has been appointed as Chairman, Sam Abdalla as Vice Chairman while Karthik Sathyamoorthy will remain the CEO of AG&P LNG.

Sathyamoorthy commented on the acquisition: “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.

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 costeffective 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. With AG&P LNG’s presence across high-growth geographies, we look forward to rapidly unlocking these demand-centers and facilitating reliable LNG supply sources to match the demand growth.

Gibson added that Nebula Energy is also establishing a ship-owning company, Nebula Energy Shipping, where all marine assets will be owned and operated to provide efficient and secure transportation services to support the expanding LNG business.