AG&P Successfully Completes Conversion of Floating Storage Unit (FSU) for the First LNG Import Terminal in the Philippines (PHLNG)

October 24, 2022

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PHLNG to Deliver Gas by March 2023

Conversion of the Japan-built Moss-type LNG Carrier (LNGC) to FSU by AG&P subsidiary GAS Entec
FSU an element of hybrid offshore/onshore PHLNG Import Terminal design, with preliminary capability of 5 million tonnes every year (MTPA)
Supply, operations and upkeep of the FSU by ADNOC L&S

MANILA, Philippines, Oct. 24, 2022 /PRNewswire/ — Atlantic, Gulf & Pacific International Holdings (AG&P), the downstream LNG platform which focuses on infrastructure and logistics to deliver LNG to necessary markets, introduced the profitable conversion of the 137,512 cubic meter LNG provider known as ISH right into a Floating Storage Unit (FSU). The ISH is a central part of the first Philippines LNG Import Terminal (PHLNG). Ready to be docked at AG&P’s PHLNG facility in Batangas, the FSU is a component of the mixed offshore-onshore import terminal that can have an preliminary capability of 5 million tonnes every year (MTPA). The hybrid PHLNG terminal is designed to supply its clients with resiliency of provide and excessive availability, even throughout storms.

In February 2022, AG&P signed a 15-year long-term constitution settlement with ADNOC Logistics and Services (ADNOC L&S) for the provide, operations and upkeep of its 137,512 cubic meter Floating Storage Unit (FSU) for the PHLNG import terminal. AG&P’s subsidiary GAS Entec accomplished the conversion to an FSU in file time. The FSU will probably be succesful of loading LNG at a peak fee of 10,000 cbm/hr and a discharge-to-shore peak fee of 8,000 cbm/hr made attainable with the modifications achieved by Gas Entec in the Cargo Handling and Safety System that enables for simultaneous loading and discharge of LNG.

Mr. Joseph Sigelman, Chairman & CEO, AG&P Group mentioned, “I am delighted to announce the successful completion of the FSU for our PHLNG Terminal that AG&P has executed in-house. This represents yet another milestone for Gas Entec which continues to be a market leader in the conversion of LNG carriers into floating terminals, extending their productive life and opening new markets. We look forward to opening the PHLNG LNG Regasification Terminal in early 2023, bringing LNG for the first time to the Philippines.”

Mr. Karthik Sathyamoorthy, President of AG&P Terminals and Logistics, mentioned: “The PHLNG import terminal will store LNG and dispatch natural gas to power plants, industrial and commercial customers and other consumers. From day one, PHLNG will have scalable onshore regasification capacity of 420mmscfd and almost 200,000cbm of storage. The construction for two onshore tanks as part of PHLNG’s second phase has already started and will be integrated as part into the main terminal in 2024, ensuring high availability and reliability of natural gas for our customers.”

About AG&P

Atlantic Gulf & Pacific (AG&P) is constructing a world community for clear vitality, nation by nation. We develop and run LNG and gasoline logistics and distribution options, offering the infrastructure to entry pure gasoline safely and simply in new, rising and developed markets worldwide. We act as an proprietor and as a service supplier protecting the growth, financing, engineering, procurement, mission administration and development for onshore and offshore gasoline infrastructure, linking suppliers to downstream clients.

www.agpglobal.com