ADNOC L&S Acquires 3 Additional New-Build Vessels to Meet Growing Global Demand for LNG

Source: www.gulfoilandgas.com 6/2/2022, Location: Middle East

ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (ADNOC) and the region’s largest shipping and logistics company, announced today its decision to purchase three additional liqueified natural gas (LNG) vessels. ADNOC L&S is the region’s largest shipping and integrated logistics company and the state-of-the-art new-build vessels will bolster the company’s capacity as it responds to the growing global demand for LNG.

The new-build LNG vessels, each with a capacity of 175,000m3, are significantly larger than the current ADNOC L&S fleet which have a capacity of 137,000m3 each. ADNOC L&S previously announced in April 2022 that it will acquire two LNG vessels which brings the total number of new-build LNG vessels ordered to five, with the vessels scheduled for delivery in 2025 and 2026.

Captain 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 acquistion of five state-of-the-art LNG vessels will support ADNOC’s existing LNG business as well as its significant growth plans.

"Several dynamics are stengthening the LNG market which makes the timing of these acquisitions particularly significant. This includes a renewed emphasis on energy access and security, as well as new environmental regulations that favor more fuel-efficient vessels, such as the new-builds that we are purchasing."

All five new-build LNG vessels will be built at the Jiangnan Shipyard in China. Jiangnan Shipyard was also previously commisioned by ADNOC L&S in 2020 to build five Very Large Gas Carriers (VLGC) for AW Shipping, ADNOC L&S’ Joint Venture company with China’s Wanhua Chemical Group.

Mr. 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.”

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. The new vessels’ engine technology will reduce emissions (CO2, NOX and SOX) and in combination with the innovative Air Lubrication System, further reduce fuel consumption by at least 10%.

ADNOC L&S has the largest and most diversified fleet in the Middle East, with more than 200 vessels transporting crude oil, refined products, dry bulk, containerized cargo, liqueified petroleum gas (LPG), and LNG to global markets. When combined with its 1.5 million square meter integrated logistics base in Mussafah and its comprehensive end-to-end logistics capabilities, ADNOC L&S is the region’s leading provider for integrated maritime logistics solutions.

Over the past 24 months, ADNOC L&S has acquired 16 deep sea vessels, including eight Very Large Crude Carriers (VLCC) in 2021, that added 16 million barrels of capacity. Furthermore, the company acquired six product tankers, which expanded the product tanker fleet capacity to over 1 million metric tonnes as well as five VLGC for AW Shipping.


Norway >>  8/15/2022 - Vår Energi has acquired 30% ownership in production licenses (PL) 820S and PL 820 SB (north of the Balder field in the North Sea) from Lime Petroleum,...
Spain >>  8/12/2022 - F2i, Italy's leading infrastructure fund, and Crédit Agricole Assurances have signed an agreement to acquire from the Villar Mir Group wind farms in o...

Brazil >>  8/11/2022 - Petrobras informs that it has begun the opportunity disclosure stage (teaser), referring to the sale of its mining rights for research and mining of p...
Angola >>  8/10/2022 - Afentra plc, an upstream oil and gas company listed on AIM and focused on acquiring production and development assets in Africa, is pleased to announc...

Denmark >>  8/10/2022 - Vestas continuously looks for partners that can support our strategic focus on our core business and help scale renewables efficiently in the long-ter...
Norway >>  8/10/2022 - • The transaction consideration of US$68 million includes NOK 309 million (~US$33 million) in deferred tax assets which are recoverable for Lime Petro...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.