AG&P, ADNOC LOGISTICS AND SERVICES SIGN AGREEMENT FOR THE LONG-TERM CHARTER OF A FLOATING STORAGE UNIT (FSU) AT THE NEW AG&P LNG IMPORT FACILITY AT KARAIKAL PORT, SOUTH INDIA

ABU DHABI, United Arab Emirates, Feb 12 (Bernama-BUSINESS WIRE) -- Atlantic Gulf & Pacific (AG&P), the global downstream gas and LNG logistics company, and ADNOC Logistics and Services (ADNOC L&S) have 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 137,756 cubic meter 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 with commercial operations expected to commence before the end of 2021.
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