Philippines gets its first LNG import terminal

The Philippines’ first LNG import terminal is offloading its first cargo. ADNOC Logistics & Companies (ADNOC L&S), the transport and maritime logistics arm of Abu Dhabi’s ADNOC, has introduced the profitable berthing of LNG provider, Ish, on the AG&P Philippines LNG (PHLNG) Import Terminal in Batangas Bay.

Following its arrival, Ish can be commissioned as a floating storage unit (FSU) at PHLNG. AG&P subsidiary, GasEntec, transformed the vessel, which has a capability of 137,500 cu m, to an FSU in 5 months.

The settlement to constitution Ish to AG&P, was signed in 2022 and spans 11 years with the choice to increase an additional 4 years.

The Philippines’ final producing fuel area is on the decline. The nation will want practically 9m tonnes of LNG yearly to feed its current and permitted gas-fired energy crops after its present supply of provide, the home Malampaya gasfield, dries up by 2024, based on Fitch Options, the analysis arm of Fitch Group.