ADNOC Logistics & Shopping (L&S) has upped the ante on earlier orders by adding three additional new-build LNG vessels to its portfolio, as demand for LNG around the world continues to grow.
ADNOC said the new-build LNG vessels, each with a capacity of 175,000 cu m, were significantly larger than the current ADNOC L&S fleet which have capacities of 137,000 cu m each. ADNOC L&S announced in April 2022 that it would acquire two LNG vessels, bringing the total number of newbuild LNG vessels ordered to five, all scheduled for delivery in 2025 and 2026. All five vessels are ordered at Jiangnan Shipyard.
“ADNOC is an active player in the evolving global energy landscape, where natural gas and LNG are playing an increasingly important role,” Capt. Abdulkareem Al Masabi, ADNOC L&S ceo, said. “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.”
ADNOC L&S is the maritime logistics arm of ADNOC Group. “Standing at 44 seagoing vessels today, our owned fleet is continuously growing to meet customer needs and support ADNOC’s growth in upstream and downstream production capacity and trading,” ADNOC’s website said.
Chinese yards are winning a growing number of LNG carrier orders. This demand is likely to grow as the market responds to the European imperative to diversify sources of gas imports in the wake of the Russian invasion of Ukraine. Germany, in particular, rues a decision-making record which has left it overly-reliant on Russian gas imports.
“We would like to thank ADNOC L&S for its continued collaboration with Jiangnan,” Lin Ou, chairman of Jiangnan Shipyard, said. “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.”
ADNOC L&S claims to be the largest fully integrated shipping and logistics company in the UAE, supporting the entire oil and gas supply chain through three major business segments: shipping, integrated logistics and marine services. Its total fleet today is 143-strong, but this figure includes 52 OSVs and 47 ports services craft.
Parent ADNOC said Jiangnan Shipyard was commissioned by ADNOC L&S in 2020 to build five very large gas carriers (VLGCs) for AW Shipping, ANDOC L&S’ joint venture with China’s Wanhua Chemical Group. ADNOC L&S announced the jv with Wanhua in 2020.
“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,” it said.
Source: Seatrade Maritime News