Swan Energy Limited signs Head of agreement with AG&P Terminals & Logistics

Swan Energy Limited (SEL) has signed a Heads of Agreement (HoA) with AG&P Terminals & Logistics (SINGAPORE) PTE. LTD. (AG&P LNG) for the following purposes:

1. Incorporating a Joint Venture Company (LNG Supply Company) for the purpose of supplying LNG in India or any other jurisdiction. Swan Energy Limited shall hold 51% equity stake and balance 49% equity stake shall be held by AG&P LNG in LNG Sourcing Company for the purpose of supply of LNG in India or any other jurisdiction.

2. AG&P LNG will collaborate with SEL for Swan LNG’s Private Limited (“SLPL”) Terminal for regasification of LNG into RLNG. There is also an option with AG&P LNG to have equity participation in Swan Energy’s LNG Terminal.
 

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3. Incorporating a Joint Venture Company (Vessel Company) for the purpose of providing Floating storage and regasification unit (“FSRU”) and Floating Storage Unit (“FSU”) to operate SLPL’s LNG Terminal. AG&P LNG will hold 51% equity stake and SEL will hold 49% equity stake in the Company.

The above transactions shall be subject to Due diligence from both the parties. The terms and conditions for the above transactions will be decided post due diligence by both the parties.

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