Logistics Adnoc Logistics signs charter deal for LN floating import terminal By Reuters December 22, 2022, 5:35 AM Reuters Egypt exported 80% of its LNG to Europe last year as the continent sought to replace Russian gas The maritime logistics arm of state oil firm Abu Dhabi National Oil Company (Adnoc) and Singapore-based Atlantic, Gulf and Pacific (AG&P) have signed a charter agreement to use a liquefied natural gas (LNG) carrier as a floating storage unit in India. The LNG carrier is owned by Adnoc Logistics & Services (Adnoc L&S). It will be used at AG&P’s LNG import terminal in India, which will be commissioned in the second half of 2024, according to a statement by AG&P on Wednesday. The agreement is valid for 11 years with the option of a four-year extension, and is the third agreement signed between the two companies for a floating storage unit lease in India and the Philippines. The statement added that an AG&P subsidiary called GAS Entec would convert the LNG carrier to a floating storage unit, while its operations and maintenance will be undertaken by Adnoc L&S. The floating storage unit will be moored alongside a regasification unit, and the integrated terminal will have an initial capacity of 5 million tons per annum (mtpa). An official at AG&P said earlier in December that the company aimed to set up its first LNG terminal in India by the end of 2024. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
