ADNOC Logistics and Services (ADNOC L&S) and Atlantic Gulf and Pacific Holdings (AG&P) signed a third charter agreement for ADNOC’s LNG carrier Ghasha to be used as a floating storage unit (FSU) at AG&P’s LNG import terminal in India. 

The agreement is valid for 11 years with an optional four-year extension, marking the third charter agreement between the two companies, the two previous being for FSU’s in India and the Philippines. 

Built in Japan, the LNG carrier Ghasha is a moss-type containment vessel with approximately 138,000 m3 of capacity. Its conversion from LNG carrier to FSU will be completed by GAS Entec, an AG&P subsidiary, while ADNOC L&S will handle the vessel’s operations and maintenance. 

The FSU will be moored by a regasification unit manufactured by GAS Entec. The integrated terminal will have an initial capacity of 5 million tonnes per annum (mtpa).

“ADNOC L&S is in the midst of a major renewal project of its LNG fleet and, as we do so, we are repurposing our older vessels to extend their life, generating incremental value and new revenue streams," ADNOC L&S CEO Captain Abdulkareem Al Masabi said.

Ghasha is part of ADNOC L&S’ 300-plus vessel fleet. With its integrated logistics capabilities and logistics base in Abu Dhabi, ADNOC L&S is the region’s largest shipping and integrated logistics company. 

Based in the Philippines, AG&P is a downstream LNG platform and infrastructure development company.