(The Philippine Star) | Updated February 5, 2017 -
12:00am
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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