ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (ADNOC) has signed the ship building contract for the construction of two 175,000 cubic metre LNG vessels that will join its fleet in 2025.
ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (ADNOC), has awarded ship building contract for the construction of two 175,000 cubic metre LNG vessels that will join its fleet in 2025.
The new LNG vessels will be crucial enablers of ADNOC’s 2030 growth strategy, supporting its existing LNG business as well as its ambitions to grow its liquefied natural gas (LNG) production capacity. They will be built at the Jiangnan Shipyard in China, ADNOC L&S said in a statement.
ADNOC L&S has the largest and most diversified fleet of vessels within the Middle East 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.
Captain 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, modern vessels capable of serving our customers for the next 25 years and deepens our partnership with Jiangnan Shipyard."
The new-build LNG vessels are significantly larger than the current ADNOC L&S fleet of LNG vessels which have a capacity of 137,000m3 each.
Each of the new build vessels will carry enough LNG to power 45,000 homes for a year. The new vessels’ engine technology will slash emissions ( CO2, NOX and SOX ) and in combination with the innovative Air Lubrication System further reduce fuel consumption by at least 10%.
Over the past 24 months, ADNOC L&S acquired 16 deep sea vessels, including eight Very Large Crude Carriers in 2021, adding 16 million barrels of capacity, six product tankers, which expanded the product tanker fleet capacity to over 1 million metric tonnes, in addition to five Very Large Gas Carriers for AW Shipping.
(Writing by Seban Scaria; editing by Anoop Menon)