Dubai: ADNOC’s logistics arm has awarded ship building contracts for two 175,000 cubic metre LNG vessels that will be inducted into its fleet in 2025. The purchase, part of an expansion strategy, will reinforces ADNOC Logistics & Services’ ‘position as the UAE’s leading shipping and maritime operator’.
The new vessels will support its existing LNG business as well as plans to grow its liquefied natural gas (LNG) production capacity. They will be built at the Jiangnan Shipyard in China.
In 2020, ADNOC L&S had put together a growth program to expand and diversify its shipping fleet and offer a broader range of service to clients, while ‘supporting and enabling the growth of ADNOC’s upstream production capacity and the expansion of its downstream and petrochemical operations’.
This order for large LNG carriers is another milestone in the strategic portfolio of Jiangnan shipyard. We are committed to delivering these vessels on time, with good quality and ensuring the highest possible customer satisfaction.
ADNOC L&S already operates the largest fleet within the Middle East and transports crude oil, refined products, dry bulk, containerized cargo, LPG, and LNG through owned and chartered vessels.
In a statement, Capt. Abdulkareem Al Masabi, CEO of ADNOC L&S, said: "The expansion and modernization of our LNG fleet will be a key enabler of ADNOC L&S’ growth strategy. This acquisition helps future-proof our fleet with more sustainable vessels capable of serving our customers for the next 25 years and deepens our partnership with Jiangnan Shipyard."