Abu Dhabi Acquires Two New-build LNG Vessels from China

Published April 12th, 2022 - 11:26 GMT
Abu Dhabi Acquires Two New-build LNG Vessels from China
Illustration of one of ADNOC’s planned 175,000 cubic meter LNG vessels.Source: Abu Dhabi National Oil Co.

Abu Dhabi National Oil Company (ADNOC)'s shipping and maritime logistics arm, ADNOC Logistics & Services (ADNOC L&S), announced today the signing of a Ship Building Contract for the construction of two 175,000 cubic metre LNG vessels that will join its fleet in 2025.

The two new LNG tankers from China are expected to be delivered in 2025. They will be built at the Jiangnan Shipyard in Shanghai and bigger than any LNG vessels currently in Adnoc’s fleet, the company said. Each of the new build vessels will carry enough LNG to power 45,000 homes for a year. 

In 2020, ADNOC L&S started a strategic growth programme to expand and diversify its shipping fleet and offer a broader service to its customers while supporting and enabling the growth of ADNOC's upstream production capacity and the expansion of its downstream and petrochemical operations.

It's worth noting that ADNOC L&S has the largest and most diversified fleet of vessels within the Middle East. 

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."

Lin Ou, Chairman of Jiangnan Shipyard, said, "We are extremely proud to continue our relationship with ADNOC L&S. 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.

Jiangnan Shipyard was previously commissioned by ADNOC L&S in 2020 to build five Very Large Gas Carriers for AW Shipping, ANDOC L&S' Joint Venture company with China's Wanhua Chemical Group.

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.

ADNOC aims to raise oil-production capacity by a quarter to 5 million barrels a day and to become self-sufficient in gas production by the end of the decade. 

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