AG&P signs contract to hire floating LNG terminal

LNG logistics company Atlantic Gulf & Pacific (AG&P) on Monday said it will hire a floating LNG terminal from Abu Dhabi’s ADNOC Logistics and Services to set up India’s first floating LNG import facility at Karaikal Port in Puducherry.

The two firms “signed an agreement for the conversion, supply, operations and maintenance of a floating storage unit (FSU) at AG&P’s new LNG import facility located within Karaikal Port in Puducherry, India,” the company said in a statement.

“The 137,756 cubic metre FSU owned by ADNOC L&S is being chartered for 15 years through an innovative commercial model enabling supply to be scaled to match demand. Construction on the terminal will begin in Q1 2020 (first quarter) with commercial operations expected to commence before the end of 2021,” it said.