Sigelman says the ADNOC L&S FSU is powerful combination for bringing gas to new markets
Atlantic Gulf & Pacific International Holdings (AG&P), a leading downstream LNG platform and infrastructure development company with regional business managed from Singapore, have signed an agreement to charter ADNOC L&S liquefied natural gas (LNG) carrier Ghasha for deployment in India as a Floating Storage Unit (FSU).
Ghasha is part of ADNOC L&S’ diverse operational fleet of more than 300 vessels and will be commissioned as LNG Import Terminal in India in the second half of 2024.
The AG&P and ADNOC agreement for the carrier is for 11 years with the option of a four-year extension.
Previously, the two companies have two similar agreements for FSUs in India and the Philippines.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said on 21 Dec 2022, “This agreement with AG&P builds on a phenomenal period of global expansion for ADNOC L&S as we focus on growth, diversification and unlocking new revenue streams.
“ADNOC L&S is in the midst of a major renewal project of its LNG fleet and, as we do so, we are repurposing our older vessels to extend their life, generating incremental value and new revenue streams.”
The operations and maintenance of the FSU will be undertaken by ADNOC L&S, while the conversion of the LNG Carrier (LNGC) to an FSU will be completed by GAS Entec, an AG&P subsidiary. The FSU will be moored alongside a regasification unit, manufactured by the subsidiary. The integrated terminal will have an initial capacity of 5 million tons per annum (mtpa).
“AG&P is thrilled to work closely with ADNOC L&S to continue to bring energy to important markets. We are also proud of AG&P’s Gas Entec business, which has become a world leader in LNG technology.”
The LNG carrier Ghasha was built in Japan and is a moss-type containment vessel with a capacity of around 138,000 cubic meters. When combined with a 1.5 million square meter logistics base in Abu Dhabi and its integrated logistics capabilities, ADNOC L&S is the region’s largest shipping and integrated logistics company. fiinews.com
