AG&P inks FSU deal with Adnoc for Philippines LNG import terminal

Singapore’s LNG firm AG&P has signed a deal with a unit of UAE’s Abu Dhabi National Oil Co (Adnoc) to charter a floating storage unit for its LNG import terminal in the Philippines.

Under the deal, AG&P would lease the 1995-built, 137,315-cbm LNG carrier Ish from Adnoc Logistics & Services and convert it to an FSU, according to a statement.

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 while GAS Entec, a unit of AG&P, will be in charge of the conversion.

The deal strengthens the existing partnership relationship between the two companies as they previously signed a similar FSU deal for AG&P’s LNG import facility located within Karaikal Port in Puducherry, India.

AG&P inks FSU deal with Adnoc for Philippines LNG import terminal
Image: Adnoc Logistics & Services

AG&P’s terminal in the Philippines, Philippines LNG or PHLNG, will have an initial capacity of 5 million tonnes per annum.

The firm claims this would be the first LNG import terminal in the Philippines and expects to commission the facility in Batangas Bay in July.

Atlantic Gulf & Pacific Company of Manila, a unit of AG&P, won approval for the project in March last year.

McDermott’s unit CB&I Storage Solutions has won contracts to build two storage tanks for the LNG import terminal in the Philippines.

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.

Most Popular

Eni: third phase of YPF’s Argentina LNG project requires $20 billion investment

The third phase of YPF's Argentina LNG export project would require an investment of about $20 billion, according to Eni’s COO of global natural resources, Guido Brusco.

Wison scores Suriname FLNG gig

China’s Wison New Energies has signed a detailed feasibility study deal for a newbuild floating liquefied natural gas (FLNG) facility in Suriname's offshore Block 52.

Venture Global to introduce gas to tenth Plaquemines liquefaction block

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce natural gas to the tenth liquefaction block at the Plaquemines LNG terminal in Louisiana as part of the plant’s commissioning process.

More News Like This

Adnoc, ENN seal 15-year LNG SPA

UAE’s Adnoc has signed a 15-year sales and purchase agreement with Chinese independent gas distributor ENN to supply the latter with LNG from its LNG terminal in Al Ruwais.

Adnoc, Mitsui seal Ruwais LNG supply deal

UAE's Adnoc has signed a 15-year sales and purchase agreement with Japan’s trading house Mitsui & Co to supply the latter with liquefied natural gas from its LNG terminal in Al Ruwais.

Adnoc’s XRG wraps up Mozambique deal

Adnoc's investment unit XRG has completed the purchase of Galp’s 10 percent interest in the Area 4 concession of the Rovuma basin in Mozambique, which includes Eni’s Coral South FLNG project.

Nebula’s AG&P LNG, Indonesia’s PLN EPI form JV

Nebula Energy’s AG&P LNG has formed a 20-year joint venture with PT PLN Energi Primer Indonesia (PLN EPI) and partners to develop LNG infrastructure for the Sulawesi-Maluku power plant gasification project.