ADNOC L&S and AG&P join forces for Philippines’ first LNG import terminal
ADNOC Logistics & Services (ADNOC L&S) is advancing its global footprint with the successful docking of its LNG carrier, Ish, at the AG&P Philippines LNG (PHLNG) Import Terminal in Batangas Bay. This marks a significant expansion of the company’s operations, positioning it as a central player in the international energy sector. The UAE-based company, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), has been instrumental in bringing to fruition the first LNG import terminal in the Philippines.
Upon its arrival, the LNG carrier Ish is set to be commissioned as a Floating Storage Unit (FSU) at the PHLNG terminal. This transformation was executed by GasEntec, a subsidiary of AG&P, over a period of five months. The vessel, with a capacity of 137,500 cubic meters, will be maintained and operated by ADNOC L&S, enhancing its role in the global LNG supply chain.
The charter agreement for Ish, signed with AG&P in 2022, is set to last for 11 years with an option to extend for an additional four. This strategic alliance augments ADNOC L&S’s FSU revenue stream and prolongs the vessel’s operational lifespan, while concurrently bolstering PHLNG’s supply resilience. The partnership further cements the existing long-term charter agreement between ADNOC L&S and AG&P, which includes the provision of an additional FSU in India.
This collaboration underscores the importance of synergy and innovation in the energy sector. Both ADNOC L&S and AG&P are committed to providing affordable and reliable energy to the Philippines and beyond, while also setting new industry standards for safety and efficiency. The move is emblematic of the expanding relationship between the UAE and the Philippines in the energy sector, with the PHLNG terminal standing as a key exemplar of this fruitful partnership.