AG&P signs 15-year charter agreement with Adnoc Logistics and Services to provide storage, flexibility to Philippines LNG Import Terminal in Batangas Bay

AG&P signs 15-year charter agreement with Adnoc Logistics and Services to provide storage, flexibility to Philippines LNG Import Terminal in Batangas Bay

Joseph Sigelman, chairman and CEO, AG&P Group and Capt. Abdulkareem Al Masabi, CEO of Adnoc L&S. — Supplied photo

Phase 1 commissioning of PHLNG in H2 with FSU storage. In Phase 2, two additional onshore storage tanks to follow in 2024.

Published: Wed 23 Feb 2022, 2:24 PM Last updated: Wed 23 Feb 2022, 2:38 PM

Atlantic, Gulf & Pacific International Holdings (AG&P), a leading downstream LNG platform and infrastructure development company, has signed a long-term charter agreement with Adnoc Logistics and Services (ADNOC L&S) for the supply, operations and maintenance of the vessel named ISH, a 137,512 cubic metre floating storage unit (FSU) for the first Philippines LNG Import Terminal (PHLNG) in Batangas Bay.

The FSU will be located at Batangas Bay at AG&P’s new PHLNG facility on the main island of Luzon, the first LNG import terminal in the Philippines. The FSU is being chartered for 11 years with an option to extend by another four years. ADNOC L&S will provide a Japan-built, Moss-type containment vessel as FSU for the project from its fleet of eight LNG ships. The FSU is part of the combined offshore/onshore terminal that will have an initial capacity of five million tonnes per annum (MTPA) and provide