AG&P to utilize ADNOC Logistics & Services’ LNG Carrier Ghasha as floating storage for LNG Import Terminal in India
ADNOC Logistics & Services (ADNOC L&S) and Atlantic Gulf & Pacific (AG&P), a leading downstream LNG platform and infrastructure development company, have signed their third charter agreement to utilize Ghasha, an ADNOC Logistics & Services liquefied natural gas (LNG) carrier, as a Floating Storage Unit (FSU).
Under the terms of the agreement, the carrier will be used at AG&P’s LNG Import Terminal in India, which will be commissioned in the second half of 2024.
The agreement, valid for 11 years with the option of a four-year extension, strengthens the existing relationship between the two companies.
“This agreement with AG&P builds on a phenomenal period of global expansion for ADNOC Logistics & Services as we focus on growth, diversification and unlocking new revenue streams,” remarked Captain Abdulkareem Al Masabi, CEO of ADNOC L&S.
“The ADNOC Logistics & Services FSU, plus the regasification unit, is a powerful combination for bringing gas to new markets,” commented Joseph Sigelman, Chairman & CEO, AG&P Group.
The LNG carrier Ghasha was built in Japan and is a moss-type containment vessel with a capacity of around 138,000cbm. It is part of ADNOC L&S’ diverse operational fleet of more than 300 vessels.
When combined with a 1.5mn sqm logistics base in Abu Dhabi and its integrated logistics capabilities, ADNOC L&S is the region’s largest shipping and integrated logistics company.
Want to stay updated on the latest industry news and trends? Subscribe today to receive your monthly news highlights directly in your inbox!
