Singapore-based 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 India.
Under the deal, AG&P would use the LNG carrier carrier Gasha at its import terminal in India, and expects to commission it in the second half of 2024, the firm said in a statement on Wednesday.
AG&P did not reveal the location of the import terminal.
This is the company’s third charter deal with ADNOC Logistics & Services and follows the FSU agreement for its LNG import terminal in the Philippines as well as for its LNG import facility located within Karaikal port in Puducherry, India.
The new deal is valid for 11 years with the option of a four-year extension.
Gas Entec in charge for conversion
The 1995-built Ghasha is a Moss-type containment vessel with a capacity of around 138,000 cubic meters.
ADNOC L&S is in the midst of a renewal project of its LNG fleet and the company is repurposing its older vessels to extend their life.
Moreover, ADNOC L&S will take over the operations and maintenance of the Gasha FSU while Gas Entec, a unit of AG&P, will deliver the conversion of the LNG carrier to an FSU.
AG&P said that the FSU would be moored alongside a regasification unit, manufactured by the company’s unit.
The integrated terminal would have an initial capacity of 5 million tons per annum (mtpa), it said.