ADNOC Logistics & Services (L&S) and Atlantic Gulf & Pacific International Holdings (AG&P) have signed their third charter deal to utilise Ghasha, ADNOC’s LNG carrier, as a floating storage unit offshore India.
Under the terms of the agreement, the carrier will be used at AG&P’s LNG Import Terminal in India, which will be commissioned in the second half of 2024. The agreement, valid for 11 years with the option of a four-year extension, strengthens the existing relationship between the two companies, which have previously entered two similar agreements for FSUs in India and the Philippines.
The integrated terminal offshore India will have an initial capacity of 5 million tonnes per annum.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said: “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.”
