The shipping and maritime logistics arm of ADNOC, ADNOC Logistics & Services (ADNOC L&S), has announced the successful berthing of LNG carrier, Ish, at the AG&P Philippines LNG (PHLNG) import terminal in Batangas Bay, Philippines.
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.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, says: ‘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 vessel and unlocking new revenue streams and opportunities for growth. For AG&P, this means availing a flexible storage solution for their new LNG terminal, which will catalyse wider economic and social prosperity.’
‘With the Ish docking at PHLNG for the next decade or longer, AG&P is proudly set to open the first LNG terminal in the Philippines, one with both floating and, shortly, almost equal onshore tank storage, providing near 100% availability…We are proud to see the relationship between the UAE and Philippines grow in this way, with PHLNG as a prime case study,’ adds Joseph Sigelman, chairman and CEO of AG&P.
