Swan Energy and AG&P partner for LNG operations

By Staff Report December 23, 2024 5:01 pm IST

The joint venture will focus on selling liquefied natural gas (LNG) to India and other markets, with a separate collaboration planned to create a floating storage and regasification unit.

Swan Energy has inked a preliminary agreement with Singapore’s AG&P Terminals & Logistics to form a joint venture for supplying liquefied natural gas in India and other countries, according to a regulatory filing.

Swan Energy will hold a 51% stake in the joint venture (JV), while AG&P LNG will hold the remaining shares. AG&P LNG will collaborate on Swan Energy’s LNG regasification terminal.

The new joint venture would focus on selling LNG to India and other markets, with a separate collaboration planned to create a floating storage and regasification unit (FSRU) and a floating storage unit to support Swan Energy’s LNG terminal operations. The FSRU is a vessel that facilitates the transfer of LNG through oceanic channels, converting liquid natural gas into its original gaseous state before being pumped into storage tanks.