In a major geopolitical and commercial milestone, Adani Ports and Special Economic Zone Ltd (APSEZ) has secured a 10-year marine services contract valued at an estimated $70 million (approximately ₹666 crore) for Argentina’s first Liquefied Natural Gas (LNG) export project.
The deal, won through a global competitive bidding process, officially marks the Adani Group’s entry into the South American maritime market.
The Consortium Structure and Project Scope
The contract was awarded by project developer Southern Energy S.A. (SESA) to APSEZ’s step-down subsidiary, The Adani Harbour International FZCO.
To execute the project, Adani has formed a consortium with Argentina-based Meridian Group. The operations will be contractually managed via Meridian Transportes Marítimos S.A., a joint venture structured on a 51:49 ownership basis, with Adani holding the majority stake.
Under the 10-year agreement, the consortium will deliver end-to-end nautical and specialized marine operations to support the export facility.
Operational Requirements & Dedicated Fleet
To manage the complex maritime conditions of the export site, Adani Ports will deploy a specialized fleet consisting of:
- Four (4) high-specification tugboats dedicated to safely maneuvering incoming LNG carriers.
- One (1) anchor handling tug supply vessel to manage offshore logistics and material supply.
- One (1) specialized crew boat to facilitate seamless crew transfer operations.
Project Timeline and Export Mechanics
The infrastructure framework centers on the Southern Energy Floating Liquefied Natural Gas (FLNG) project, situated in the San Matías Gulf within Argentina’s Río Negro Province.
[General San Martín Pipeline] ──► [Hilli Episeyo FLNG Vessel] ──► [2.45 MT LNG Annually]
(28 Cargoes / Year)
Natural gas will be piped from the domestic General San Martín pipeline directly onto the chartered floating LNG vessel, Hilli Episeyo, for immediate liquefaction and storage.
- Commercial Launch: Official operations are contractually scheduled to commence in September 2027.
- Phase 1 Output: The initial phase targets an annual output of 2.45 million tonnes (MT) of LNG.
- Traffic Scale: This volume translates to roughly 28 massive LNG cargo shipments being exported out of the gulf every year.
Bridging the Argentina-to-India Energy Corridor
Beyond widening Adani’s global maritime footprint—which now spans operations across 12 countries—the project functions as a critical link in secure bilateral trade.
Argentina is aggressively building infrastructure to position itself as a major global energy supplier. Strategic agreements are already formalized to export up to 10 million tonnes (MT) of LNG annually from Argentina directly to India starting in 2027. APSEZ’s presence at the point of origin ensures Indian capital is embedded directly at the anchor node of this newly emerging energy supply corridor.
Commenting on the global expansion, Ashwani Gupta, Whole-time Director and CEO of APSEZ, noted:
“By combining these capabilities with strong local partnerships, we are helping create reliable maritime ecosystems that enable new energy trade corridors and strengthen long-term supply resilience.”
Following the announcement on Monday morning, shares of APSEZ remained relatively flat, hovering near ₹1,819.50 on the BSE, demonstrating stable resilience against a broader, highly volatile down-cycle across Dalal Street. Global brokerage Nomura retains a “Buy” rating on the stock with a target price of ₹1,930, fueled by expectations that Adani’s specialized marine segment will post a 29% EBITDA compounded annual growth rate (CAGR) through FY28.