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U.S.-based funding firm Nebula Power LLC has invested $300 million for an undisclosed majority stake in LNG terminal developer, AG&P Terminals & Logistics Pte Ltd (AG&P LNG).
Nebula Power is increasing its enterprise within the liquified pure gasoline and carbon seize and storage sectors with its funding in AG&P LNG; with plans to fast-track LNG terminal and storage infrastructure growth throughout rising markets in South and Southeast Asia.
“With this partnership, AG&P LNG will singularly function the one-point built-in supply for the fast unlocking of near-term market demand,” stated AG&P LNG CEO Karthik Sathyamoorthy.
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AG&P has six LNG terminals in growth in Asia, with a proposed capability of 25 million metric tons/per 12 months (mmty). Included in its LNG portfolio, AG&P LNG is the operator of the primary LNG import and regasification terminal within the Philippines, a transformed floating, storage and regasification unit (FSRU) in Batangas Bay, which was commissioned in Could 2023.
Nebula Power can also be growing a floating liquefaction facility, Karaikal LNG, in Chennai, India, to ultimately develop capability from 1 to three mmty with an estimated October 2025 start-up date. A second facility, the three mmty Cai Mep LNG terminal in Vietnam is scheduled to be commissioned in the second half of this 12 months.
“This partnership comes at a time of a brand new cycle of LNG provide and rising demand for LNG in Asia markets the place LNG is being more and more acknowledged because the important gas to profoundly cut back carbon emissions,” stated Nebula Chairman Peter Gibson.
Gibson stated with the added presence of AG&P LNG in Asia, “to stay up for quickly unlocking these demand-centers and facilitating dependable LNG provide sources to match the demand progress.”
AG&P LNG is a subsidiary of AG&P Group, part-owned by Osaka Fuel, the Japan Financial institution of Worldwide Cooperation and Asiya Investments, a publicly traded Kuwait fund. AG&P LNG will now function as an unbiased subsidiary of Nebula Power with headquarters within the United Arab Emirates.
Beneath the brand new partnership Nebula Power will set up Nebula Power Delivery to help the increasing demand of the brand new LNG enterprise.
The submit Nebula Power Buys Majority Stake in AG&P LNG to Quick-Observe Asian Pure Fuel Initiatives appeared first on Pure Fuel Intelligence
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