XRG Considers $3 Billion Stake in Energos Infrastructure Amid Apollo Sale Talks
Energos Infrastructure is a rapidly growing company in the floating LNG infrastructure market. Founded just four years ago, it operates 13 ships and two FSRUs (Floating Storage and Regasification Units) in Brazil. The company's fleet has expanded significantly since its inception, with nine of the 13 vessels being FSRUs.
FSRUs function as import terminals on the water, receiving liquefied natural gas, storing it at cryogenic temperatures, regasifying it, and sending the gas into the network. This model allows for increasing import capacity without long wait times for the construction of a complete onshore terminal.
The company has assets in various markets around the world, including Brazil, the Dominican Republic, Egypt, Indonesia, Jordan, Mexico, the Netherlands, and Puerto Rico. A significant portion of the fleet is linked to long-term contracts, which explains why Energos may attract buyers interested in infrastructure with contracted revenues.
Brazil is at the center of Energos's portfolio, with two units providing over 1.7 billion cubic feet of daily nominal capacity tied to the Brazilian market. The company has been expanding its presence globally and has recently reported a significant contract win in Germany.
Apollo Global Management, the owner of Energos Infrastructure, is exploring alternatives for the company. Reuters reports that XRG, ADNOC's international arm, is among the potential buyers considering a 50% stake in the company. A transaction could value the company at over $3 billion.