Singapore-based Atlantic, Gulf & Pacific International Holdings Pte. Ltd. announced Monday the conversion of the 137,512-cubic-meter liquefied natural gas carrier ISH into a floating storage unit.
The ISH, which is ready to be docked at AG&P’s PHLNG facility in Batangas City, is a central component of the first Philippine LNG import terminal.
“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,” said AG&P Group chairman and chief executive Joseph Sigelman.
AG&P’s subsidiary GAS Entec completed the conversion of the vessel into an FSU in record time.
“We look forward to opening the PHLNG LNG Regasification Terminal in early 2023, bringing LNG for the first time to the Philippines,” Sigelman said.
The FSU is part of the combined offshore-onshore import terminal with an initial capacity of 5 million tons a year.
The hybrid PHLNG terminal is designed to provide customers with resiliency of supply and high availability, even during storms.
AG&P in February signed a 15-year long-term charter agreement with ADNOC Logistics and Services for the supply, operations and maintenance of its FSU for the PHLNG import terminal.
The FSU will be capable of loading LNG at a peak rate of 10,000 cubic meters per hour and a discharge-to-shore peak rate of 8,000 cubic meters a hour, 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.
“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 420 million standard cubic feet per day and almost 200,000 cubic meters of storage,” AG&P terminals and logistics president Karthik Sathyamoorthy said.
“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,” he said.
AG&P will supply the gas requirements of the 1,200-megawatt Ilijan power plant of San Miguel Corp. in Batangas.