Adnoc’s floating LNG storage unit Ish is ready to start serving AG&P’s LNG import terminal in the Philippines, following the completion of conversion works in China.
China’s Huarun Dadong yard said in a statement it completed the conversion of the 1995-built, 137,315-cbm LNG carrier Ish to an FSU.
The unit left the yard towards the Philippines on July 23, it said.
Hurarun Dadong completed the conversion ten days ahead of the planned construction period of 80 days, the statement said.
According to its AIS data provided by VesselsValue, the unit was on Tuesday located in Brunei Bay.
To remind, Singapore’s LNG firm AG&P signed a charter deal for the unit in February with Adnoc Logistics & Services.
Starting in the third quarter this year, the agreement would last for 11 years with an extension option for 4 additional years.
Adnoc Logistics & Services will operate and maintain the FSU that will serve AG&P’s terminal in the Philippines, Philippines LNG or PHLNG.
The terminal will have an initial capacity of 5 million tonnes per annum.
First LNG terminal in Philippines
AG&P claims this would be the first LNG import terminal in the Philippines. It previously said it had expected to commission the facility in Batangas Bay in July.
“Construction is in full swing for commissioning at the end of the year to supply gas to one of the largest power producers in the country,” the firm said in a social media post this week.
Philippines LNG will store and dispatch regasified liquefied natural gas to power plant, industrial and commercial customers but also other consumers.
The Philippines has several LNG import facilities on the table as the Malampaya gas field becomes less reliable in producing and providing sufficient fuel supply for the country’s existing gas-fired power plants.
This includes First Gen’s Batangas FSRU-based LNG import terminal.
The power producer recently agreed on a new delivery date for the chartered 162,000-cbm FSRU BW Paris due to a delay in the completion of the facility.
(Article updated to say that AG&P now expects to commission the LNG terminal at the end of the year.)