AG&P signs MoU with Hindustan LNG to build new LNG import terminal in Andhra
New Delhi [India], Jan. 30 (ANI- Business Wire India): AG&P (Atlantic, Gulf and Pacific Company), the leading global integrator of LNG infrastructure solutions including LNG terminals and the supply chains that emanate from them, and Hindustan LNG (HLNG), a Hyderabad-based LNG import terminal development company, have signed a Memorandum of Understanding (MoU) to supply tolled gas to power stations in the East Godavari region of Andhra Pradesh, India.
Under the agreement, AG&P will provide an integrated solution to deliver regasified LNG through a new LNG import terminal that AG&P will also design and build at the port in Andhra Pradesh.
The MoU was signed at the Partnership Summit 2017 organized by Confederation of Indian Industry (CII) and the signing was graced by Chief Minister N. Chandrababu Naidu. The MoU has launched a fully integrated solution for delivering tolled gas in India, including design, construction, financing, operations and maintenance of the new terminal, which will ensure a reliable and low-cost supply to power producers, fertilizer plants, cold storage and other industries in Andhra Pradesh and other markets along the east coast.
Speaking at the signing ceremony in Andhra Pradesh on 28th January, 2017, Dr C.R. Prasad, Chairman of HLNG said: "Andhra Pradesh is the ideal place for developing an LNG import facility to serve the growing energy demands of the east coast of India where existing gas-fired power projects urgently need a reliable supply of LNG. The partnership with AG&P will provide a strong platform to develop a fast-track and low-cost LNG import solution that enables the region to continue on its growth trajectory."
AG&P will be responsible for designing and building all the required facilities for the import terminal, including a floating storage and mooring system, regasification terminal, related utilities and the provision of tolled gas to power plants and other users. AG&P will also carry out any necessary conversion works and, upon commissioning, ongoing operations and maintenance activities.
"It is a great privilege for AG&P to help implement India's vision for clean, low-cost, flexible and reliable power. Andhra Pradesh is playing a critical role in manufacturing and trade. The state and its people are on a strong, upward trajectory. We see the provision of tolled gas to supply power and fuel to factories, homes and even transport in an environmentally clean way as crucial elements of Andhra Pradesh's future. We are honoured to be a part of this exciting phase of the state's development," said Dr Jose P. Leviste, Jr., Chairman of AG&P.
Atlantic, Gulf & Pacific Company of Manila (AG&P) is a global leader in infrastructure solutions for energy, natural resources and other industrial companies, delivering state-of-the-art, modularized products and support services to vessels, projects and plants. The company has deep experience in modular manufacturing of E-houses, LNG liquefaction and other process modules, refineries, petrochemical plants and mining operations for blue-chip clients globally. AG&P is now at the forefront of developing small-scale LNG infrastructure. AG&P designs, manufactures, finances, charters/leases, operates and maintains LNG terminals and the supply chains that emanate from them. AG&P leverages its partnerships with leading LNG experts to deliver flexible solutions across the LNG value chain in the shortest possible time with lower capital investment.
About Hindustan LNG:
Hindustan LNG is a Liquefied Natural Gas Supply Company with required infrastructure facilities in the east cost of Andhra Pradesh, India. The company is establishing itself across the natural gas value chain by foraying into LNG imports, regasification and gas evacuation for customers in the State of Andhra Pradesh and across India. Our aim is to play a prime role in the LNG supply chain in India by setting up the required infrastructure for importing LNG and for credible supply of LNG to consumers, thereby contributing to the energy security of India. Our motto is to create value by fulfilling our commitments to our partners, customers, employees and communities and societies at large. (ANI- Business Wire India)