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Nebula Energy’s AG&P LNG has signed a deal with Singapore-based BK LNG Solution (BKLS) to deliver one spot liquefied natural gas cargo to China.
According to a statement by AG&P LNG, the deal was signed on Thursday by Henry Kim, president of BKLS, and Karthik Sathyamoorthy, CEO of AG&P LNG.
AG&P LNG said the spot cargo will be delivered by the end of August, but it did not provide any additional information.
In addition to the spot cargo transaction, AG&P LNG and BKLS agreed to collaborate on small-scale LNG initiatives, utilizing the terminal at Cai Mep, Vietnam for breakbulk into China using small LNG carriers and ISO containers.
AG&P LNG and its partner Hai Linh plan to launch commercial operations of the 3 mtpa Cai Mep LNG terminal in September this year.
According AG&P LNG, this initiative with BKLS “underscores their commitment to expanding LNG distribution capabilities and enhancing market responsiveness across China”.
BKLS said in a statement issued in April that it has joined forces with Singapore-based Huaying International Energy Trading, a unit of China’s Huaying Natural Gas, to collaborate on securing LNG.
According to the statement, Huaying International is seeking “multiple” spot LNG cargoes and BKLS will “bring its LNG expertise” to collaborate with the company to close LNG deals.
In May, privately-owned Huaying Natural Gas and China’s state-controlled energy giant Sinopec secured a port operation license for the jetty at their LNG import terminal in the port city of Chaozhou in the Guangdong province.
The two firms each own 50 percent in the LNG import terminal with a capacity of 6 mtpa.
In January, US investment and asset management firm, Nebula Energy, purchased an 80 percent stake in AG&P LNG from Singapore-based AG&P.
With operational headquarters in the UAE, AG&P LNG now operates as an independent subsidiary of Nebula with key offices in UAE, Singapore, India, Vietnam, and Indonesia.
AG&P LNG has a “substantial growth pipeline” with a total of six LNG terminals in development with proposed capacity of 25 mtpa across several international growth projects, it previously said.
Of its LNG terminal project portfolio, AG&P LNG last year launched the first LNG import and regasification terminal in the Philippines, called the Philippines LNG (PHLNG) import terminal located in Batangas Bay.
In May 2023, AG&P LNG commissioned the import terminal in the Philippines following the arrival of the 137,500-cbm FSU Ish at the terminal’s jetty in Batangas Bay.
Moreover, AG&P LNG and its consortium members won in March a large-scale 20-year contract for LNG infrastructure development from a unit of Indonesia’s state power company PLN.
This infrastructure includes an LNG carrier, floating storage and regasification unit (FSRU), and multiple onshore regasification sites, AG&P LNG said.
Besides this deal, Venice Energy, the developer of the Outer Harbor LNG import project in the Port of Adelaide, signed a deal earlier this year with AG&P LNG to secure a converted FSRU for its planned project in South Australia.
Venice Energy expects to take a final investment decision on the project by August.
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The post AG&P LNG inks deal with BKLS to deliver spot LNG cargo to China appeared first on Energy News Beat.
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