AG&P LNG, a company specializing in LNG terminals and downstream infrastructure, has signed an agreement with Singapore-based BK LNG Solution (BKLS) to bring the first spot cargo of LNG to China.
This collaboration aims to meet the growing demand in the Chinese LNG import market by leveraging AG&P LNG’s global sourcing expertise.
The companies also agreed to collaborate on small-scale LNG initiatives, using the Cai Mep LNG terminal in Vietnam for general cargo to China.
AG&P LNG recently acquired a 49% stake in the terminal, which has a capacity of three million tonnes per annum (mtpa) and can be expanded to 6 mtpa.
The terminal, located in Vung Tau District in southern Vietnam, is a key regional asset valued at $500 million.
With this alliance, AG&P LNG and BKLS aim to enter the Chinese market, where significant growth in LNG imports is expected.
AG&P LNG CEO Karthik Sathyamoorthy said: “Together, we aim to set new benchmarks in delivering reliable and sustainable LNG solutions to support China’s growing energy demand. Diversifying energy sources with LNG enhances China’s energy security and supports economic growth.
“Our collaboration on small-scale LNG initiatives not only expands LNG distribution capabilities, but also ensures faster, more responsive LNG delivery, critical to meeting growing demand across China.”
BK LNG Solution President Henry Kim said: “We are pleased to announce the signing ceremony, where we formalized our agreement to bring our first spot cargo to China. This collaboration demonstrates our commitment to providing innovative and diversified LNG solutions to meet the dynamic needs of the Chinese LNG market.”
Earlier in March, AG&P LNG, in a consortium with other industry players, a 20-year contract secured from PLN Energi Primer Indonesia (PLN EPI) for the development of LNG infrastructure.
The consortium, consisting of AG&P Indonesia, Suasa Benua Sukses and KPM Oil and Gas, will form a joint venture with PLN EPI to design, finance, build, own and operate LNG import terminal infrastructure and downstream logistics in the Sulawesi-Maluku cluster in Indonesia.
This project includes an LNG carrier, a floating storage and regasification unit and multiple onshore regasification sites.
“AG&P LNG and BKLS sign agreement to bring LNG spot cargo to China” was originally created and published by Offshore technologya brand of GlobalData.
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