Adnoc L&S
Adnoc L&S has been on a busy fleet expansion mode. The latest contracts for LNG carriers represent a significant upscaling of its capacity. (Image used for illustrative purpose.) Image Credit: Gulf News Archive

Dubai: An ADNOC entity has parked major contracts with South Korean shipyards to build LNG carriers. These vessels are to be delivered in 2028.

ADNOC Logistics & Services’ contract with Samsung Heavy Industries Co. is for ‘at least’ three LNG carriers and with options for at last two additional ones. Based on the Letter of Intent, each of these vessels will have a capacity of 174,000 cubic metres.

There is also another deal, this one with the shipyard operator Hanwha Ocean Co. Ltd.. 

ADNOC L&S, which is listed on ADX, has been on a major fleet expansion spree through the recent past. The latest contract placements come at a time when the global shipping industry has been talking about the need for a new generation of LNG carriers.