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What is the story about?
Adani Ports and Special Economic Zone Ltd. (APSEZ), India’s largest integrated transport utility, has officially entered the South American market. The company has secured a 10-year marine services contract for Argentina’s first liquefied natural gas (LNG) export project, representing a major expansion of its international marine services portfolio.
The contract was awarded to The Adani Harbour International FZCO, a step-down subsidiary of APSEZ, through a consortium with the Argentina-based Meridian Group. The agreement follows a global competitive tender process conducted by Southern Energy S.A. (SESA). The venture will be executed via Meridian Transportes Marítimos S.A., a 51:49 joint venture between Adani Harbour International FZCO and Meridian Group.
Under the 10-year agreement, the consortium will provide comprehensive end-to-end marine services for the Southern Energy FLNG project. The operational scope includes tugboat operations for LNG carriers, offshore logistics, supply support, and crew transfer services.
This will be supported by a specialized fleet consisting of four high-specification tugboats, one anchor handling tug supply vessel, and one crew boat, backed by an estimated investment commitment of $70 million.
The Southern Energy FLNG project, located in the San Matías Gulf in Argentina’s Río Negro Province, is a joint venture between Golar LNG and Pan American Energy (PAE). It will utilize the Hilli Episeyo FLNG vessel to liquefy natural gas from the General San Martin pipeline.
Commercial operations are scheduled to commence in September 2027, with the first phase expected to produce 2.45 MT of LNG annually, approximately 28 cargoes per year.
Ashwani Gupta, CEO of APSEZ, said that this project highlights the company's ability to support large-scale energy infrastructure across complex maritime environments. With Argentina aiming to export up to 10 MT of LNG annually to India by 2027, this partnership plays a critical role in strengthening the growing energy linkages between the two nations.
Shares of Adani Ports recovered from opening lows after the contract announcement, currently trading 0.3% lower at ₹1,818.4. The stock is up 22% so far this year.
The contract was awarded to The Adani Harbour International FZCO, a step-down subsidiary of APSEZ, through a consortium with the Argentina-based Meridian Group. The agreement follows a global competitive tender process conducted by Southern Energy S.A. (SESA). The venture will be executed via Meridian Transportes Marítimos S.A., a 51:49 joint venture between Adani Harbour International FZCO and Meridian Group.
Scope & Impact Of Contract
Under the 10-year agreement, the consortium will provide comprehensive end-to-end marine services for the Southern Energy FLNG project. The operational scope includes tugboat operations for LNG carriers, offshore logistics, supply support, and crew transfer services.
This will be supported by a specialized fleet consisting of four high-specification tugboats, one anchor handling tug supply vessel, and one crew boat, backed by an estimated investment commitment of $70 million.
What Is The Southern Energy FLNG Project?
The Southern Energy FLNG project, located in the San Matías Gulf in Argentina’s Río Negro Province, is a joint venture between Golar LNG and Pan American Energy (PAE). It will utilize the Hilli Episeyo FLNG vessel to liquefy natural gas from the General San Martin pipeline.
Commercial operations are scheduled to commence in September 2027, with the first phase expected to produce 2.45 MT of LNG annually, approximately 28 cargoes per year.
Ashwani Gupta, CEO of APSEZ, said that this project highlights the company's ability to support large-scale energy infrastructure across complex maritime environments. With Argentina aiming to export up to 10 MT of LNG annually to India by 2027, this partnership plays a critical role in strengthening the growing energy linkages between the two nations.
Shares of Adani Ports recovered from opening lows after the contract announcement, currently trading 0.3% lower at ₹1,818.4. The stock is up 22% so far this year.
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