Wednesday, February 15, 2017

AG&P inks deal for LNG supply in India

(The Philippine Star) |

MANILA, Philippines -  Philippine-based Atlantic, Gulf and Pacific Company (AG&P) has sealed a deal to supply liquefied natural gas (LNG) in India, strengthening its foothold in Asia.
AG&P, ran LNG solutions provider has signed a memorandum of understanding (MoU) with Hindustan LNG (HLNG) to supply tolled gas to power stations in the East Godavari region of Andhra Pradesh, India.
Under the MoU, both AG&P and HLNG will launch a fully integrated solution for delivering tolled gas in India, including design, construction, financing, operations and maintenance of the new terminal.
AG&P will do the design and construction of a LNG import terminal at the port in Andhra Prades. The terminal floating storage and mooring system, regasification terminal, related utilities and will include a the provision of tolled gas to power plants and other users.
It will also carry out any necessary conversion works and upon commissioning, ongoing operations and maintenance activities.
AG&P chairman Jose Leviste said the partnership would ensure a reliable and low-cost supply of LNG to power producers, fertilizer plants, cold storage and other industries in Andhra Pradesh and other markets along the east coast of India.
 “Like the Philippines, India has a vast coastline which makes it ideal for developing LNG import facilities to serve the growing energy demands of communities that are not connected to a gas pipeline. In these areas, gas-fired power projects urgently need a reliable supply of LNG. AG&P is providing a fast-track and low-cost LNG import solution which we are also developing to meet the needs of power producers and other customers in the Philippines,” he said.
Moreover, the partnership reinforces AG&P’s strategic priority to strengthen its LNG foothold in Southeast Asia and South Asia, where there growing demand for LNG for power and other industrial uses, Leviste said.

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