ATLANTIC Gulf & Pacific Co. (AG&P) has completed the conversion of a vessel into a floating storage unit (FSU) for gas that will be docked at its liquefied natural gas (LNG) facility in Batangas.

In a media release on Monday, the company said that it finished the conversion of the 137,512 cubic meter LNG carrier “ISH” into FSU, which is expected to deliver gas by March next year.

Its import terminal will have an initial capacity of five million tons per annum (MPTA), the company said.

“Ready to be docked at AG&P’s Philippines LNG Import Terminal (PHLNG) facility in Batangas, the FSU is part of the combined offshore-onshore import terminal,” AG&P said.

AG&P said its FSU is capable of loading LNG at a peak rate of 10,000 cubic meters per hour, and a discharge-to-onshore peak rate of 8,000 cubic meters per hour.

Its subsidiary GAS Entec Co., Ltd. completed the carrier’s conversion to an FSU and also made modifications to allow 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. PHLNG will have a scalable onshore regasification capacity of 420 million standard cubic feet per day (MMSCFD) and almost 200,000 cubic meters of storage,” said Karthik Sathyamoorthy, president of AG&P LNG terminals and logistics, said in the media release.

Mr. Sathyamoorthy said that the construction of two onshore tanks of PHLNG is now in the second phase and will be integrated into the main terminal in 2024 to ensure the availability and reliability of natural gas.

In February, AG&P signed a 15-year long-term charter agreement with ADNOC Logistics and Services for the supply, operations, and maintenance of its 137,512 cubic meter FSU.

“I am delighted to announce the successful completion of the FSU for our PHLNG Terminal that AG&P has executed in-house,” said AG&P Group Chairman and Chief Executive Officer Joseph Sigelman, adding that the move represents another milestone for GAS Entec, “which continues to be a market leader in the conversion of LNG carriers into floating terminals.” — Ashley Erika O. Jose