LNG terminals and downstream infrastructure company AG&P LNG sold a majority stake to low-carbon energy solutions designer Nebula Energy on Wednesday, for an investment of $300 million to fast-track LNG terminal development across emerging markets in South and Southeast Asia.
Subsidiary of AG&P Group said it will operate as an independent subsidiary of Nebula Energy with offices in UAE, Singapore, India, Vietnam, and Indonesia, where Karthik Sathyamoorthy will continue as its Chief Executive.
The firm said Nebula’s Chairman Peter Gibson will be appointed as Chairman of AG&P LNG and Sam Abdalla, CEO at Nebula Energy will take over as Vice Chairman.
Dubai-based AG&P LNG looks to integrate downstream LNG infrastructure and logistics networks, bridging the gap between infrastructure/logistics and demand with its advanced proprietary LNG technology and singular leading LNG credentials to develop.
“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,” said Sathyamoorthy.
Sathyamoorthy also continued, “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.”
“Nebula Energy’s supports the establishment of new import terminals and LNG infrastructure in a region experiencing a decline in domestic gas production, said said DeLaine Mayer, Director of External Affairs.
“By promoting the growth of import terminals and improving infrastructure, Nebula Energy is not only addressing the immediate energy needs of the region but is also contributing to its long-term energy security and sustainability,” added Mayer.
Based in Jacksonville, Nebula Energy is an investment, development, shipping and asset management organization providing resource solutions to utilities, private sector companies, cooperatives and municipalities to accelerate the transition to renewable energy.
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