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.
