Shares of Adani Ports and Special Economic Zone (APSEZ) were in focus on Monday, 8 June, after it secured a 10-year marine services contract for Argentina’s first Liquefied Natural Gas (LNG) export. This marks Adani Ports’ entry into South America and expands its international marine services footprint.
Despite a bloodbath on Dalal Street today, this Adani group stock traded flat, gyrating between gains and losses. Adani Ports share price hit the day’s high of ₹1,827.85 as against its last close of ₹1,823.10 and a low of ₹1802.20 apiece. The stock was hovering close to its 52-week high of ₹1,843.10 touched on May 27.
APSEZ’s Argentina LNG Export Deal Details
Adani Ports, in a press release today, said that the contract has been awarded to its 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), supported by an estimated investment commitment of $70 million.
“The award strengthens APSEZ’s presence across international energy logistics value chains and underscores its growing capabilities in specialised marine services,” the company said.
Under the agreement, the consortium will provide end-to-end marine services, including tugboat operations for LNG carriers, offshore logistics and supply support and crew transfer services. The scope will be supported by four high-specification tugboats, one anchor handling tug supply vessel and one crew boat.
Ashwani Gupta, Whole-time Director and Chief Executive Officer (CEO), APSEZ, said, “With marine operations in 12 countries and a growing fleet of marine assets supporting ports, LNG terminals, national oil companies, refineries and offshore facilities, we bring deep operational expertise to complex maritime environments.”
“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,” he added.
Argentina is emerging as a major new LNG supplier, with agreements in place to support exports of up to 10 million tonnes (MT) annually to India from 2027, the company said. The Southern Energy FLNG project is expected to play an important role in connecting this growing supply base with global demand centres.
Adani Ports share price trend
Despite the West Asia crisis, shares of Adani Ports have emerged strong so far this year, delivering a 23% return as against a decline of 13% seen in the barometer Sensex.
On a one-year basis, the Adani group stock is up 24%, and for three years, it has surged 148%. On a longer time frame of 10 years, Adani Ports share price has surged 780%.
Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.
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