With the efforts of the Indian government, several avenues have opened up for the country, which is expected to reap profitability in the days to come. From port development to tech adoption, foreign collaborations and interventions have previously helped India strengthen its foot in the transportation, logistics, and freight sectors. And today, more news from Abu Dhabi bears the same theme.
The Abu Dhabi National Oil Company (ADNOC) Logistics and Services, one of the main handlers of the petroleum ports in Jebel Dhanna, Ruwais, Das Island, and Fujairah, has recently signed a deal with the Singapore-based Atlantic, Gulf & Pacific International Holdings (AG&P) to use LNG carriers as floating units in India. AG&P is a leading downstream LNG platform and infrastructure development company and has a proven track record of excellence in the associated domain.
Marking this as ADNOC’s third charter, this agreement on Ghasha, i.e., the Liquefied Petroleum Carrier to be used, would be binding for 11 years with the option to extend it by another four years.
When asked about this collaboration, Joseph Sigelman, Chairman and CEO, AG&P Group, said, “AG&P is thrilled to work closely with ADNOCL&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.”
Furthermore, one of the official statements reported Captain Abdulkareem Al Masabi’s (CEO, ADNOC L&S) comments on the same, stating, “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 lives, generating incremental value and new revenue streams.”