ADNOC Logistics & Services (ADNOC L&S), Abu Dhabi National Oil Company’s (ADNOC) shipping arm and the largest shipping company in the region, has decided to acquire three additional liquefied natural gas (LNG) vessels.
Its state-of-the-art new-build vessels will enhance the company’s ability to respond to the increasing global demand for LNG. ADNOC L&S is the region’s largest shipping and integrated logistics company.
Each of the 175,000 cubic meter-capacity new LNG vessels is significantly larger than ADNOC’s current L&S vessels, which have a capacity of 137,000 cubic meters. Earlier this year, ADNOC L&S announced that it would acquire two LNG vessels, bringing the total number of newly-built LNG vessels ordered to five that are scheduled to be delivered in 2025 and 2026.
Abdulkareem Al Masabi, CEO of ADNOC L&S, said: “ADNOC is an active player in the evolving global energy landscape, where natural gas and LNG are playing an increasingly important role. ADNOC L&S’ strategic acquisition of five state-of-the-art LNG vessels will support ADNOC’s existing LNG business as well as its significant growth plans.”
Jiangnan Shipyard in China will build all five LNG carriers for ADNOC L&S. Jiangnan Shipyard was previously contracted to construct five Very Large Gas Carriers (VLGC) for AW Shipping, ADNOC L&S’ joint venture company with China’s Wanhua Chemical Group.
Lin Ou, Chairman of Jiangnan Shipyard, said, “We would like to thank ADNOC L&S for its continued collaboration with Jiangnan. We are committed to the promotion of new efficient, energy-saving and environmentally-conscious vessels and proud to be able to support ADNOC L&S’ growth strategy for the future.”
In addition to helping ADNOC L&S meet customer demand, the new vessels’ engine technology will also reduce emissions (CO2, NOX and SOX) and, when combined with the innovative Air Lubrication System, help significantly reduce fuel consumption by at least 10%.