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Singapore’s AG&P plans first

LNG terminal in India by 2024

TERMINALS SINGAPORE-BASED Atlantic, Gulf and Pacific of its LNG terminal in the Philippines during
(AG&P) intends to complete its first LNG ter- the first quarter of 2023. The Philippines LNG
minal in India by 2024, according to Karthik (PHLNG) project will have a capacity to process
Sathyamoorthy, president of the company’s LNG 5mn tpy and it will supply the existing 1.2-GW
terminals and logistics division. Ilijan power plant in Bantangas. The former
“AG&P is very bullish on an India import LNG carrier ISH has been converted into a float-
terminal and our aim is to have a terminal up ing storage unit (FSU) and positioned at the site.
and running in the next two years,” he said in There are also two storage tanks under construc-
a report from Reuters. Although the company tion at the site, which will be incorporated into
broke ground for a terminal at Karaikal port in the project in 2024.
Puducherry in February 2020, Sathyamoorthy AG&P has signed a 15-year contract with
said AG&P continues to look for possible alter- ADNOC Logistics and Services covering the
native sites in other parts of southern India. supply, operations and maintenance of the
Work at the Karaikal site was slowed by the 137,512 cubic metre FSU.
onset of the coronavirus (COVID-19) pan- According to a statement issued by AG&P,
demic. “We have restarted focus on the import construction of the terminal began in March
terminal,” Sathyamoorthy said. “But in addition 2021. The cost of the project is put at PHP14.6bn
to Karaikal, we have a couple of other options as ($261mn).
well,” he said, adding that the location does not Besides the contract with ADNOC, PHLNG
have to be in Karaikal without giving a reason. will also receive LNG from spot market pur-
The terminal planned for Karaikal is to have chases and short- and mid-term agreements,
a capacity to process 1mn tonnes per year (tpy) AG&P said.
of LNG and distribute the natural gas to power Philippines’ First Gen Corporation also plans
plants, industries and commercial customers to start operations in the Philippines at an LNG
within a 300-km radius. terminal in 2023.™
Meanwhile, AG&P plans to start operations

Week 49 08•December•2022 www. NEWSBASE .com P13