APSEZ Secures 10-Year Marine Services Contract for Argentina's First LNG Export to India

APSEZ Secures 10-Year Marine Services Contract for Argentina's First LNG Export to India​

Adani Ports and Special Economic Zone Ltd. (APSEZ), recognized as India's largest integrated transport utility, has secured a significant marine services contract spanning ten years. The deal involves facilitating the first liquefied natural gas (LNG) export from Argentina to India, marking APSEZ's entry into the South American market and expanding its international marine logistics footprint.

The contract was awarded to APSEZ's step-down subsidiary, The Adani Harbour International FZCO, through a consortium with the Meridian Group, which is based in Argentina. This achievement strengthens APSEZ’s position within international energy logistics value chains following a global competitive tender conducted by Southern Energy S.A. (SESA).

The agreement mandates that the Adani Group-Meridian consortium provide comprehensive end-to-end marine services. The scope of work includes tugboat operations for LNG carriers, offshore logistics and supply support, and specialized crew transfer services. The logistical requirements are supported by a fleet including four high-specification tugboats, one anchor handling tug supply vessel, and one crew boat.

The Southern Energy FLNG project, which is being developed by SESA—a joint venture between Golar LNG and Pan American Energy (PAE)—is set to play a vital role in connecting Argentina's emerging LNG supply base with global demand centers. The facility is located in the San Matías Gulf of Argentina's Río Negro Province. Commercial operations are scheduled to commence in September 2027, utilizing the Floating Liquefied Natural Gas (FLNG) vessel Hilli Episeyo.

Argentina is establishing itself as a key LNG supplier for India, with agreements supporting exports of up to 10 million tonnes (MT) annually starting from 2027. In its initial phase, the project is expected to produce 2.45 MT of LNG every year, equating to approximately 28 cargoes per year, and represents Argentina's first operational LNG export venture.

The contract execution will be managed through Meridian Transportes Marítimos S.A., a 51:49 joint venture between Adani Harbour International FZCO and the Meridian Group. The project is supported by an estimated investment commitment of $70 million, underscoring the growing energy linkages between India and Argentina.

APSEZ maintains extensive capabilities across integrated logistics. As part of the globally diversified Adani Group, APSEZ operates a comprehensive ecosystem that includes 15 strategically located ports and terminals across India's west, south, and east coasts. The company also manages 4 international ports in Australia, Colombo, Israel, and Tanzania. With a current cargo handling capacity reaching 653 million tonnes per annum, APSEZ handles approximately 27% of India's total port volumes.

ADANIPORTS Stock Price Movement​

As of 9:36 AM, shares of Adani Ports and Special Economic Zone Limited are slipping by 0.02% in live trading, currently at ₹1823.8. The stock traded 281,605 shares during the morning session, maintaining its high-level trading range amid a competitive market environment.