ADNOC Logistics & Services & Atlantic Gulf & leading downstream LNG platform and infrastructure development company Pacific International Holdings a have signed a charter agreement to utilize ADNOC L&S’s LNG Carrier Ish as a Floating Storage Facility. Under the terms of the agreement, starting Q3 2022, AG&P will use the carrier for the first LNG Import Terminal in the Philippines at Ilijan in Batangas Bay, PHLNG. The agreement, which is valid for 11 years with the option of extension by 4 years, strengthens an existing relationship between the two companies and builds on a previous agreement between the two companies to provide another FSU in India, signed in 2021. It continues ADNOC L&S’ ongoing drive to diversify its customer base and enhance revenue streams. The vessel is part of a fleet of eight LNG vessels operated by ADNOC L&S and is currently under contract to ADNOC LNG, a subsidiary of ADNOC. Upon the conclusion of its contract with ADNOC LNG, the Ish will be deployed to AG&P as a floating storage facility, extending the vessel’s life by at least 11 years and up to 15 years, and bolstering ADNOC L&S’ recently established FSU revenue stream, while providing PHLNG’s customers with resiliency of supply. The supply, operations and maintenance of the FSU will be undertaken by ADNOC L&S while the conversion of the LNG Carrier to FSU will be completed by AG&P subsidiary, GAS Entec. PHLNG will be the 5th FSU-based LNG import terminal in the world, after those in India, Malta, Malaysia, and Bahrain. The integrated PHLNG offshore/onshore import terminal will have an initial capacity of 5 million tonnes per annum (MTPA). The Ish is part of ADNOC L&S’ diverse fleet of more than 200 vessels, which, when combined with its 1.5 million square meter logistics base in Abu Dhabi and its integrated logistics capabilities, make the company the region’s leading marine logistics provider. The Ish was built in 1995 in Japan and has a capacity of 137,315.444 cubic meters of LNG. At the time of its inauguration was one of the largest LNG vessels in the world.
ADNOC Logistics & Services & Atlantic Gulf & leading downstream LNG platform and infrastructure development company Pacific International Holdings a have signed a charter agreement to utilize ADNOC L&S’s LNG Carrier Ish as a Floating Storage Facility. Under the terms of the agreement, starting Q3 2022, AG&P will use the carrier for the first LNG Import Terminal in the Philippines at Ilijan in Batangas Bay, PHLNG. The agreement, which is valid for 11 years with the option of extension by 4 years, strengthens an existing relationship between the two companies and builds on a previous agreement between the two companies to provide another FSU in India, signed in 2021. It continues ADNOC L&S’ ongoing drive to diversify its customer base and enhance revenue streams. The vessel is part of a fleet of eight LNG vessels operated by ADNOC L&S and is currently under contract to ADNOC LNG, a subsidiary of ADNOC. Upon the conclusion of its contract with ADNOC LNG, the Ish will be deployed to AG&P as a floating storage facility, extending the vessel’s life by at least 11 years and up to 15 years, and bolstering ADNOC L&S’ recently established FSU revenue stream, while providing PHLNG’s customers with resiliency of supply. The supply, operations and maintenance of the FSU will be undertaken by ADNOC L&S while the conversion of the LNG Carrier to FSU will be completed by AG&P subsidiary, GAS Entec. PHLNG will be the 5th FSU-based LNG import terminal in the world, after those in India, Malta, Malaysia, and Bahrain. The integrated PHLNG offshore/onshore import terminal will have an initial capacity of 5 million tonnes per annum (MTPA). The Ish is part of ADNOC L&S’ diverse fleet of more than 200 vessels, which, when combined with its 1.5 million square meter logistics base in Abu Dhabi and its integrated logistics capabilities, make the company the region’s leading marine logistics provider. The Ish was built in 1995 in Japan and has a capacity of 137,315.444 cubic meters of LNG. At the time of its inauguration was one of the largest LNG vessels in the world.
