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.
S&P Lowers Currency Ratings on Argentine Producers
2023-03-31 - S&P Global Ratings lowered the local and foreign currency ratings to ‘CCC-’ from ‘CCC+’ on Pampa Energia S.A., YPF S.A. and nine other entities, which all now have a negative outlook.
Energy Transition in Motion (Week of March 31, 2023): Advancing Projects, Investment
2023-03-31 - Here’s a look at some of this week’s renewable energy news, including plans to add offshore wind capacity globally.
Norway’s PGS Places $450 Million Bond
2023-03-31 - Norwegian marine geophysical company PGS ASA placed a new $450 million senior secured bond, which together with cash on hand will be used to repay the company’s B term loan.
Brad Gray on Diversified’s Strategy Past Appalachia [WATCH]
2023-03-30 - Diversified Energy’s Brad Gray sat down with Pietro Pitts at Hart Energy’s DUG Haynesville Conference in Shreveport to talk about what Diversified is doing to set itself apart from other E&Ps and future plans as the company expands outside of the Appalachian Basin.
SM Energy Announces $0.15/Share Quarterly Cash Dividend
2023-03-30 - SM Energy's board of directors announced the quarterly cash dividend of $0.15/share of common stock outstanding will be paid out to stockholders on May 5.