Apollo weighs Energos sale at over $3 billion valuation

Apollo Global Management is exploring sale options for its floating LNG operator Energos Infrastructure, Reuters reported on 17 September 2026, citing people familiar with the matter. A potential transaction could value Energos at more than $3 billion.

Energy company XRG is among the interested parties and is considering acquiring an equity stake of up to 50% in the company. Energos currently owns and operates a fleet of 13 maritime vessels. The fleet includes nine floating storage and regasification units, two floating storage units, and two LNG carriers.

Apollo established Energos in August 2022 through a joint venture with New Fortress Energy that valued the business at $2 billion. Funds managed by Apollo initially held an 80% stake, while New Fortress Energy retained 20%. In February 2024, Apollo acquired the remaining 20% stake from New Fortress Energy. Six of the vessels remain chartered to New Fortress Energy under long-term agreements for up to 20 years.