Swan Energy Limited — Important, 20-12-2024: General Updates

Swan Energy Limited (SEL) has signed a Heads of Agreement with AG&P Terminals & Logistics (SINGAPORE) PTE. LTD. for the establishment of two joint venture companies. The first venture will focus on supplying LNG in India, with SEL holding a 51% equity stake and AG&P LNG owning the remaining 49%. Additionally, AG&P LNG will collaborate with SEL on the Swan LNG Terminal for the regasification of LNG into RLNG and has an option for equity participation in the terminal.

The second venture aims to provide floating storage and regasification units (FSRU) and floating storage units (FSU) for SLPL’s LNG Terminal, with AG&P LNG again taking a 51% stake and SEL 49%. These transactions are pending due diligence and further terms will be finalized after that process. This strategic move positions Swan Energy to enhance its LNG supply capabilities and expand its market presence in India, representing a positive opportunity for growth and operational synergy.