Singaporean agency to import its ‘first spot LNG cargo’ to China

Home Fossil Energy Singaporean agency to import its ‘first spot LNG cargo’ to China

July 12, 2024,
by

Dragana Nikše

Nebula Power’s Dubai-headquartered subsidiary AG&P LNG has signed an settlement with BK LNG Resolution (BKLS), a Singapore-based liquefied pure fuel (LNG) participant, to import the latter’s spot LNG cargo to China. Moreover, the 2 agreed to collaborate on small-scale LNG (ssLNG) initiatives utilizing Vietnam’s LNG terminal.

Cai Mep LNG Terminal; Supply: Nebula Power

The signing ceremony was held on July 11, 2024, with cargo scheduled to be delivered by the top of August 2024. In accordance with the Singaporean participant, this will probably be its first spot cargo supply to China.

Henry Kim, President of BK LNG Resolution, mentioned: “We’re happy to announce the signing ceremony the place we formalized our settlement to deliver our first spot cargo into China. This collaboration demonstrates our dedication to offering revolutionary and diversified LNG options to fulfill the dynamic wants of the Chinese language LNG market.”

*BK LNG Resolution President, Henry Kim, and AG&P LNG CEO, Karthik Sathyamoorthy; Supply: AG&P LNG*

Moreover, the duo is about to work collectively on ssLNG initiatives by utilizing the terminal at Cai Mep, Vietnam, to ship breakbulk options to China utilizing small LNG carriers and ISO containers.

AG&P LNG bought a 49% stake in Cai Mep, one in every of two current LNG terminals within the nation, in March. Two months later, it was disclosed that commissioning activities would start in June, with industrial operations anticipated to start out in September 2024.

“We stay up for advancing our collaboration with BKLS past the primary spot cargo Transaction. Collectively, we purpose to set new benchmarks in delivering dependable and sustainable LNG options to assist China’s rising vitality calls for. Diversifying vitality sources with LNG enhances China’s vitality safety and helps its financial development,” famous Karthik Sathyamoorthy, CEO of AG&P LNG.

“Our collaboration on Small Scale LNG initiatives not solely expands LNG distribution capabilities but in addition ensures faster, extra responsive supply of LNG, essential for assembly growing demand throughout China.”

As companions anticipate China’s LNG import market to develop, the agreements are in keeping with Nebula Power’s need to fast-track LNG terminal growth throughout rising markets in South and Southeast Asia, which it cited as the explanation for purchasing a stake in AG&P LNG in January.