Synopsis: Adani Ports and Special Economic Zone (APSEZ) has secured a 10-year marine services contract for Argentina’s first LNG export project through a consortium with Argentina-based Meridian Group. The contract marks APSEZ’s entry into South America and strengthens its international marine services business.
Shares of Adani Ports and Special Economic Zone Limited are likely to remain in focus after the company announced that it has secured a long-term marine services contract for Argentina’s first liquefied natural gas (LNG) export project, marking a significant milestone in its global expansion strategy.
Adani Ports and Special Economic Zone Limited has a total market capitalization of over Rs. 4,20,633.81. The company’s shares were trading at around Rs. 1,831.50 apiece on the National Stock Exchange, up by 0.40 percent during the session. The stock has surged around 3.49 percent over the last five trading sessions and delivered a return of nearly 4.04 percent over the past month, reflecting a positive performance. The stock touched a 52-week high of Rs. 1843 and a 52-week low of Rs. 1290.50. The stock remains closely tracked by investors due to its dominant position in India’s ports, logistics and transportation infrastructure sectors.
According to the company, the contract has been awarded to its step-down subsidiary, The Adani Harbour International FZCO, through a consortium formed with Argentina-based Meridian Group. The award was secured following a global competitive tender process conducted by Southern Energy S.A. (SESA), the developer of Argentina’s first operational LNG export project.
Under the agreement, the Adani Group-Meridian consortium will provide end-to-end marine services for the Southern Energy Floating Liquefied Natural Gas (FLNG) project. The scope of work includes tugboat operations for LNG carriers, offshore logistics and supply support, as well as crew transfer services. The project will be supported by four high-specification tugboats, one anchor handling tug supply vessel and one crew boat.
The project is backed by an estimated investment commitment of approx $70 million and represents APSEZ’s entry into the South American market. The company stated that the contract further strengthens its international marine services portfolio and expands its presence across global energy logistics value chains.
The Southern Energy FLNG project is being developed by Southern Energy S.A., a joint venture between Golar LNG and Pan American Energy. Located in Argentina’s Rio Negro Province, the project is expected to commence commercial operations in September 2027.
In its first phase, the facility is expected to produce 2.45 million tonnes of LNG annually, equivalent to around 28 LNG cargoes per year, making it Argentina’s first operational LNG export project. Argentina is also emerging as a major LNG supplier, with agreements already in place to support exports of up to 10 million tonnes annually to India from 2027.
Commenting on the development, Ashwani Gupta, Whole-time Director and CEO of APSEZ, stated that the project reflects the company’s growing capability to support large-scale energy infrastructure projects globally. He added that APSEZ’s experience across 12 countries and expertise in supporting ports, LNG terminals, refineries, national oil companies and offshore facilities positions it well to create reliable maritime ecosystems and strengthen global energy trade corridors.
Incorporated in 1998, Adani Ports and Special Economic Zone Limited is India’s largest integrated transport utility and the flagship ports company of the Adani Group. The company operates a network of ports, logistics parks, warehouses, rail assets and transportation services across India and international markets.
The latest contract not only expands APSEZ’s geographical footprint into South America but also strengthens its position in the global LNG logistics ecosystem. As international energy trade continues to grow, such long-term contracts could provide recurring revenue streams and further diversify the company’s marine services business.
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