ADNOC L&S has entered into a charter agreement with Atlantic Gulf and Pacific International Holdings (AG&P) to use the LNG carrier Ish as a floating storage facility (FSU) in the Philippines.

Under the 11-year agreement, Ish FSU will be deployed at AG&P's new Philippine LNG Import Terminal (PHLNG) facility in Batangas Bay. The agreement also provides an option to use FSU for the next four years. As part of the transaction, ADNOC L&S will be responsible for the supply, operation and maintenance of ISHFSU, the Philippines' first LNG import terminal. GAS Entec, a subsidiary of AG&P, will complement the conversion of LNG carriers to FSUs.

Part of a fleet of eight LNG carriers operated by ADNOC L&S, Ish is a Moss-type containment vessel to be delivered as an FSU. It currently serves ADNOC's subsidiary ADNOC LNG. Built in Japan in 1995, Ish has an LNG capacity of 137,315.444 cubic meters.

Capt. Abdulkareem Al Masabi, CEO of ADNOC L&S, said: “This agreement builds on our existing partnership with AG&P and demonstrates our continued commitment to maximizing value from our assets.” The LNG terminal provides another flexible storage solution and we are able to extend the life of this vessel, unlocking incremental value and new growth opportunities. "The hybrid-designed PHLNG import terminal is planned to be commissioned in two phases. Keywords: engineering construction, engineering news

The combined PHLNG offshore/onshore import terminal is said to have an initial capacity of 5 million tonnes per annum (MTPA). In the third quarter of 2022, the first phase will be commissioned with FSU storage. Two additional onshore storage tanks will be integrated by the end of 2024. Upon completion of the two phases, PHLNG is expected to have scalable onshore regasification capacity of 504 mmscfd and storage capacity of 257,000cbm. In February 2020, AG&P and ADNOC L&S entered into an LNG lease agreement for a floating storage unit (FSU) at a new import facility in southern India.Editor/XingWentao