FCC

AG&P secures FSU for LNG import terminal in India

2022-12-23

A charter agreement for the use of a liquefied natural gas (LNG) carrier as a floating storage unit in India has been inked by Singapore-based Atlantic, Gulf and Pacific (AG&P) and the maritime logistics division of state oil company Abu Dhabi National Oil Company (ADNOC).

ADNOC Logistics & Services is the owner of the LNG ship (ADNOC L&S). It will be put to use at AG&P's LNG import terminal in India, which will be put into operation in the second half of 2024, the company said in a statement.

This is the third contract the two businesses have signed for the lease of floating storage units in India and the Philippines. The arrangement is valid for 11 years with a four-year extension option.

The announcement further stated that ADNOC L&S will handle its operations and maintenance while GAS Entec, an AG&P subsidiary, would transform the LNG carrier into a floating storage unit.

The integrated terminal's initial capacity will be 5 million tonnes per year, and the floating storage unit will be anchored next to a unit for regasification (mtpa).

Early in December, a representative of AG&P stated that the business planned to build its first LNG terminal in India by the end of 2024.