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.