ADNOC L&S expands its global operations at Philippines LNG Import Terminal

ADNOC L&S expands its global operations at Philippines LNG Import Terminal

ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of ADNOC, announced today the successful berthing of LNG carrier, Ish, at the AG&P Philippines LNG (PHLNG) Import Terminal in Batangas Bay, as it continues expanding its operations globally.

Following her arrival, Ish will be commissioned as a Floating Storage Unit (FSU) at PHLNG, the first LNG import terminal in the Philippines. AG&P subsidiary, GasEntec, converted the vessel, which has a capacity of 137,500 cubic meters, to an FSU in five months. The supply, operations and maintenance of the FSU will be undertaken by ADNOC L&S.

The agreement to charter Ish to AG&P, was signed in 2022 and spans 11 years with the option to extend a further four years. This arrangement bolsters ADNOC L&S' FSU revenue stream and extends the life of the vessel while securing PHLNG's resilience of LNG supply. The agreement builds on an existing long-term charter signed between ADNOC L&S and AG&P to provide another FSU in India.

Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said: "Successful partnerships create new value collaboratively, and the repurposing of vessels provides a blueprint for sustainable value creation. For ADNOC L&S, this translates to extending the operational life of our