LNGC ISH

PR98436

MANILA, Philippines, Oct. 24, 2022 /PRNewswire=KYODO JBN/ --

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 a part of hybrid offshore/onshore PHLNG Import Terminal design, with

initial capacity of 5 million tonnes per annum (MTPA)

- Supply, operations and maintenance of the FSU by ADNOC L&S

Atlantic, Gulf & Pacific International Holdings (AG&P), the downstream LNG

platform which focuses on infrastructure and logistics to bring LNG to

important markets, announced the successful conversion of the 137,512 cubic

meter LNG carrier called ISH into a Floating Storage Unit (FSU).  The ISH is a

central component of the first Philippines LNG Import Terminal (PHLNG).  Ready

to be docked at AG&P's PHLNG facility in Batangas, the FSU is part of the

combined offshore-onshore import terminal that will have an initial capacity of

5 million tonnes per annum (MTPA).   The hybrid PHLNG terminal is designed to

provide its customers with resiliency of supply and high availability, even

during storms.

In February 2022, AG&P signed a 15-year long-term charter agreement with ADNOC

Logistics and Services (ADNOC L&S) for the supply, operations and maintenance

of its 137,512 cubic meter Floating Storage Unit (FSU) for the PHLNG import

terminal. AG&P's subsidiary GAS Entec completed the conversion to an FSU in

record time.  The FSU will be capable of loading LNG at a peak rate of 10,000

cbm/hr and a discharge-to-shore peak rate of 8,000 cbm/hr made possible with

the modifications done by Gas Entec in the Cargo Handling and Safety System

that allows for simultaneous loading and discharge of LNG.

Mr. Joseph Sigelman, Chairman & CEO, AG&P Group said, "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, said:

"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 building a global network for clean energy,

country by country. We develop and run LNG and gas logistics and distribution

solutions, providing the infrastructure to access natural gas safely and easily

in new, growing and developed markets worldwide. We act as an owner and as a

service provider covering the development, financing, engineering, procurement,

project management and construction for onshore and offshore gas

infrastructure, linking suppliers to downstream customers.

www.agpglobal.com

SOURCE: AG&P Group

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