ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (ADNOC), has announced the signing of a ship building contract for the construction of two 175,000 cubic metre LNG vessels.
Enabling ADNOC’s 2030 growth strategy
The new LNG vessels, which are set to join ADNOC L&S’s fleet in 2025, will be crucial enablers of ADNOC’s 2030 growth strategy, supporting its existing LNG business as well as its ambitions to grow its LNG production capacity. They will be built at the Jiangnan Shipyard in China.
In 2020, ADNOC L&S started a strategic growth programme to expand and diversify its shipping fleet to support ADNOC’s growth. ADNOC L&S has the largest and most diversified fleet of vessels within the Middle East, according to the company, and its trading fleet transports crude oil, refined products, dry bulk, containerized cargo, LPG, and LNG to global markets through its owned and chartered vessels.
Expansion and modernization of fleet
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said, “The expansion and modernisation 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, modern vessels capable of serving our customers for the next 25 years and deepens our partnership with Jiangnan Shipyard.”
The new-build LNG vessels, each with a capacity of 175,000 cubic metres, are significantly larger than the current ADNOC L&S fleet of LNG vessels which have a capacity of 137,000 cubic metres each. The acquisition of larger, more energy efficient vessels will allow ADNOC L&S to meet growing customer demand while improving the environmental footprint of its fleet.
Cutting emissions
The new vessels’ engine technology will cut emissions and further reduce fuel consumption by at least 10%. These vessels will also feature partial reliquefication systems which allow for a further reduction of emissions and conserve the cargo.
Over the past two years, ADNOC L&S has acquired 16 deep sea vessels, including eight Very Large Crude Carriers in 2021, adding 16mn bbl of capacity, six product tankers, which expanded the product tanker fleet capacity to more than one million metric tonnes, in addition to five Very Large Gas Carriers for AW Shipping.
Did you subscribe to our newsletter?
It’s free! Click here to subscribe!
Source: ADNOC
