AG&P inks third charter deal with ADNOC L&S
Atlantic Gulf & Pacific International Holdings (AG&P) said on Thursday it has signed a third charter agreement with ADNOC Logistics & Services (ADNOC L&S) to utilize the latter’s carrier called Ghasha as a floating storage unit (FSU). The downstream liquified natural gas (LNG) platform and infrastructure development company said Ghasha will be used at AG&P’s LNG Import Terminal in India, which will be commissioned in the second half of 2024. The agreement, valid for 11 years with the option of a four-year extension, strengthens the existing relationship between the two companies, which have previously entered two similar agreements for FSUs in India and the Philippines. “This agreement with AG&P builds on a phenomenal period of global expansion for ADNOC L&S as we focus on growth, diversification and unlocking new revenue streams. ADNOC L&S is in the midst of a major renewal project of its LNG fleet and, as we do so, we are repurposing our older vessels to extend their life, generating incremental value and new revenue streams,” Abdulkareem Al Masabi, CEO of ADNOC L&S, said. The operations and maintenance of the FSU will be undertaken by ADNOC L&S, while the conversion of the LNG Carrier (LNGC) to an FSU will be completed by GAS Entec, an AG&P subsidiary. The FSU will be moored alongside a regasification unit, manufactured by the subsidiary. The integrated terminal will have an initial capacity of 5 million tons per annum (mtpa). Built in Japan, Ghasha a moss-type containment vessel with a capacity of around 138,000 cubic meters. It is part of ADNOC L&S’ diverse operational fleet of more than 300 vessels. In October, AG&P has also successfully completed the conversion of a 137,512 cubic meter LNG carrier called ISH into an FSU for the first LNG Import Terminal in the Philippines. The PHLNG is poised to deliver gas by the first quarter of 2023. “AG&P is thrilled to work closely with ADNOC L&S to continue to bring energy to important markets. We are also proud of AG&P’s Gas Entec business, which has become a world leader in LNG technology. The ADNOC L&S FSU, plus the regasification unit, is a powerful combination for bringing gas to new markets,” said Joseph Sigelman, chairman and CEO of the AG&P Group.

AG&P inks third charter deal with ADNOC L&S

Milbank advised Atlantic Gulf & Pacific on the deal. I Squared Capital’s announced its investment of up to US$300 million in Atlantic Gulf & Pacific (AG&P City Gas). The joint venture partnership is expected to deploy up to US$1.3 billion of capital expenditure to develop the city gas distribution networks in India. AG&P City Gas, a Singapore-based company operating in India under the brand name AG&P Pratham, is developing twelve city gas distribution networks, or concessions spanning 280,000 square kilometers and nine states. It is anticipated that the equity investment and partnership between AG&P, one of the largest private city gas distribution companies in India, and ISQ will accelerate the development of critical city gas infrastructure in the country, as well as the distribution of clean and affordable natural gas to millions of industrial and commercial customers across India. The Milbank team was led by Singapore partner Jacqueline Chan (Picture) and Hong Kong partner Paul Pery with Singapore associates Hua Chan, Stephanie Kam, Min Kim and law clerk Yixian Zhao.

I Squared Capital’s Investment in AG&P City Gas

Atlantic Gulf & Pacific Company of Manila Inc. (AG&P) is building at its assembly yard in Batangas key components of a portfolio of liquefied natural gas and petrochemical projects, worth a cumulative $770 million, in the Philippines, the US, India and elsewhere. The homegrown global engineering contractor, now headquartered in Singapore, said its network of subsidiaries has racked up this quarter a record portfolio of contracted projects. ADVERTISEMENT
These include works for five LNG terminals, both onshore and offshore; a petrochemical complex; modularized oil refinery; an oil depot; a new LNG bunkering vessel; and engineering for other maritime LNG applications. “AG&P’s Construction Business is forecast to have its best year, with contracted backlog already over $770 million spread over three years,” AG&P chair Augusto Gan said in a statement. FEATURED STORIES
“It is a groundbreaking year for AG&P as it participates in critical infrastructure projects particularly in (the) Asia-Pacific (region), that will accelerate commercial development, create jobs, clean air and trigger overall economic and social progress,” Gan said. Last month, the company said it had received from the Department of Energy a notice to proceed with the development of its import and regasification terminal along Batangas Bay. Dubbed Philippines LNG, the terminal is intended for storage of LNG and for dispatch of natural gas to customers that will use the fuel to run power plants and other industrial and commercial purposes. Gan said key projects were expected to be built modularly at AG&P’s manufacturing facilities in Batangas, where the company owns and operates a 100-hectare, large-capacity heavy fabrication and assembly yard. According to Alexander Gamboa, senior vice president of AG&P Construction, the company hosts a cadre of experienced and multicultural leaders and is home to a highly-skilled, well-trained workforce. “(This) has transformed AG&P from a world-class modular and site construction firm that mainly caters to the energy sector, into a cutting-edge, high-technology global EPC (engineering procurement and construction) company specializing in various LNG infrastructure solutions ranging from LNG bunkering, transport, storage, regasification and distribution,” Gamboa said. Read Next

PH-born firm aids crucial infra projects abroad

SINGAPORE (ICIS)--The Atlantic Gulf & Pacific Company of Manila (AG&P) said on 7 March it had been issued with a Notice to Proceed by the Philippines’ Department of Energy for the...

Philippines issues notice to proceed for AG&P's Batangas
      Bay LNG terminal

Illustration only - Wojciech Wrzesień/AdobeStock
- Atlantic Gulf & Pacific Company (AG&P) said on Monday its Philippines subsidiary has received the green light to develop a liquefied natural gas (LNG) import and regasification terminal in Batangas Bay, south of Manila. The firm, part owned by Osaka Gas and the Japan Bank for International Cooperation, said the Philippines' energy department has issued it a notice to proceed to develop the terminal, known as Philippines LNG, which will provide the fuel to power plant, industrial and commercial customers and other consumers. Philippines LNG will be the fifth planned LNG import terminal in the Southeast Asian nation, which is seeking the fuel as the Malampaya gas field in western Philippine waters is expected to run dry this decade. Four other terminals worth about 65 billion pesos ($1.34 billion) are at various stages of approval or financial closure. Philippines LNG will have an initial capacity to deliver up to three million tonnes per annum (mtpa) of regasified LNG, with additional capacity for liquid distribution, AG&P said in a statement. It will also have scalable onshore regasification capacity of 420 million standard cubic feet per day (mmscfd) and almost 200,000 cubic meters (cbm) of storage, AG&P said. The statement did not disclose the financial details of the project. The company has completed its pre-development work for the terminal which is expected to be commissioned by mid-2022. ($1 = 48.5800 Philippine pesos) 
(Reporting by Jessica Jaganathan; Editing by Muralikumar Anantharaman)

AG&P Gets OK to Develop the Philippines LNG Import Terminal in Batangas Bay

Abu Dhabi National Oil Company (ADNOCDIST: AD) is a diversified and integrated group of energy companies. Its activities include the exploration and production of crude oil and natural gas; refining, marketing, supply, and transportation, and the manufacture and distribution of petrochemicals. The company was founded in 1971 and is based in Abu Dhabi, UAE.

Abu Dhabi National Oil Company

ABU DHABI , UAE , Dec. 21 , 2022 / CNW / -- ADNOC and Atlantic Gulf & Pacific , a leading downstream LNG platform and infrastructure development company , have signed their third charter agreement to utilize Ghasha , an ADNOC L&S liquefied natural gas carrier , as a Floating Storage Unit .

04:33 ET
ADNOC L&S Signs Agreement for Third Long-Term Charter of LNG Floating Storage Unit with AG&P

CB&I, aka Chicago Bridge & Iron Company, is a global engineering and construction company specializing in the engineering and design, materials procurement, fabrication, erection, repair, and modification of steel tanks and other steel plate structures and associated systems such as petroleum terminals, refinery pressure vessels, low temperature and cryogenic storage facilities, and elevated water storage tanks.

CB&I

McDermott (NYSE: MDR) is an American multinational engineering, procurement, construction and installation company.

McDermott

Acteon Group is a provider of specialized offshore and subsea services and equipment. Acteon offers its customers a suite of services aimed at "linking seabed to surface" over the life of an offshore project. Acteon is focused on drilling rig and floating production system positioning, mooring, and installation services. Acteon is also a hydraulic hammer provider and is an emerging player in the worldwide SURF (subsea, umbilicals, risers, flowlines) market, including the installation of a variety of subsea production equipment. In October 2006, Acteon Group was acquired by First Reserve for $113 million. In October 2012, First Reserve sold Acteon to KKR, with White Deer Energy taking a minority stake. Terms of the deal were not released.

Acteon Group

Atlantic Gulf & Pacific

Unattributed

Atlantic Gulf & Pacific (AG&P) is an industrial infrastructure company, delivering pragmatic gas logistics solutions and construction services for blue-chip clients across demanding infrastructure projects.

Wells Fargo Success Story

Professional Services

Platform Overview

Atlantic Gulf & Pacific

Compete with Atlantic Gulf & Pacific?

Compete with Atlantic Gulf & Pacific?

Discover the right solution for your team