Shares of Adani Ports and Special Economic Zone (APSEZ) are likely to remain in focus after the company announced that it has secured a 10-year marine services contract for Argentina's first liquefied natural gas (LNG) export project, marking its entry into South America.
The contract has been awarded to APSEZ's step-down subsidiary, The Adani Harbour International FZCO, through a consortium with Argentina-based Meridian Group following a global competitive tender process conducted by Southern Energy S.A. (SESA).
According to the company, the Adani Group-Meridian consortium will provide end-to-end marine services for the Southern Energy FLNG project, including tugboat operations for LNG carriers, offshore logistics and supply support, and crew transfer services. The project will be supported by four high-specification tugboats, one anchor handling tug supply vessel and one crew boat.
APSEZ said the contract is backed by an estimated investment commitment of approximately $70 million and represents a significant step in expanding its international marine services footprint. The project also strengthens energy linkages between India and Argentina and positions the company within a new LNG export corridor.
Commenting on the development, APSEZ CEO Ashwani Gupta said the project reflects the company's growing capability to support large-scale energy infrastructure projects across geographies and highlights its expertise in marine operations across multiple countries.
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 Río Negro Province, the project is expected to begin commercial operations in September 2027. In its first phase, it is expected to produce 2.45 million tonnes of LNG annually, equivalent to around 28 cargoes per year.
The company noted that Argentina has already entered agreements to support LNG exports of up to 10 million tonnes annually to India from 2027, creating a potentially important new energy trade route between the two countries.