Page 17 - GLNG Week 01 2023
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GLNG MIDDLE EAST GLNG
ADNOC L&S and AG&P agree
third FSU charter
FLOATING LNG ADNOC Logistics and Services (ADNOC L&S) Entec.
and Atlantic Gulf and Pacific International Captain Abdulkareem Al Masabi, CEO
Holdings (AG&P) this week announced the of ADNOC L&S, said: “This agreement with
signing of their third floating storage unit (FSU) AG&P builds on a phenomenal period of global
charter agreement. expansion for ADNOC L&S as we focus on
The terms of the deal will see AG&P utilise growth, diversification and unlocking new rev-
one of ADNOC L&S’s older Japanese moss-type enue streams.”
containment vessels – the Ghasha – as floating ADNOC L&S is working to overhaul its LNG
LNG (FLNG) storage for a new LNG import fleet, with Al Masabi noting that repurposing
facility in India, scheduled for commissioning in older vessels to extend their life generates “incre-
the second half of 2024. The deal builds on two mental value and new revenue streams” for the
previous agreements for FSUs in India and the company.
Philippines respectively. Meanwhile, AG&P CEO Joseph Sigelman
The Emirati firm is a midstream affiliate said that “AG&P is thrilled to work closely with
of state-owned Abu Dhabi National Oil Co. ADNOC L&S to continue to bring energy to
(ADNOC). important markets. We are also proud of AG&P’s
The Ghasha vessel has a capacity of around GAS Entec business, which has become a world
138,000 cubic metres, and is part of a diverse leader in LNG technology. The ADNOC L&S
300-strong fleet operated by ADNOC L&S. The FSU, plus the regasification unit, is a powerful
agreement will run for 11 years and includes the combination for bringing gas to new markets.”
option for a four-year extension. The integrated unit at which the FSU will be
Ghasha will be maintained by ADNOC L&S, moored alongside a regasification unit – manu-
while its conversion from LNG carrier to FSU factured by GAS Entec – and will have an initial
will be completed by AG&P subsidiary GAS capacity of 5mn tonnes per year (tpy).
Week 01 05•January•2023 www. NEWSBASE .com P17
