ADNOC L&S, AG&P sign FSU deal
ADNOC Logistics & Services (ADNOC L&S) and Singapore-based AG&P have signed a charter agreement to utilise ADNOC L&S’s LNG carrier Ish as a floating storage unit (FSU) in the Philippines, the companies said on February 23.
AG&P will use the carrier for the first LNG import terminal in the Philippines at Ilijan in Batangas Bay in the third quarter of this year. The agreement is valid for 11 years with the option of extension by four years.
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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.
ADNOC L&S in 2020 signed an agreement with AG&P to provide another FSU in India.