UAE's ADNOC Signs Agreement With Chinese Shipyard On Construction Of 2 LNG Carriers

The Abu Dhabi National Oil Company (ADNOC) said on Tuesday it has signed an agreement with China's Jiangnan Shipyard on the construction of two new vessels for transporting liquefied natural gas (LNG)

MOSCOW (UrduPoint News / Sputnik - 12th April, 2022) The Abu Dhabi National Oil Company (ADNOC) said on Tuesday it has signed an agreement with China's Jiangnan Shipyard on the construction of two new vessels for transporting liquefied natural gas (LNG).

"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 integrated logistics company, 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," a statement said, adding that "they will be built at the Jiangnan Shipyard in China."

The new vessels are significantly larger than the current ADNOC tankers of 137,000 cubic meters capacity, the statement noted.

"The expansion and modernisation of our LNG fleet will be a key enabler of ADNOC L&S' (Logistics&Services) 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," tADNOC L&S chief Abdulkareem Al Masabi said.

The acquisition of the new vessels will allow ADNOC to meet the growing demand for energy resources and improve the environmental footprint of their vessels, the company added. According to the statement, the new vessels' engines will consume at least 10% less fuel because of innovative air filtration system.

Jiangnan Shipyard was also commissioned by ADNOC L&S in 2020 to build five large gas tankers for AW Shipping, ANDOC L&S' Joint Venture company with China's Wanhua Chemical Group, the company noted.

On Monday, another UAE shipping company, Al Seer Marine, announced the start of construction of the first large-capacity LNG carriers, unveiling plans to build two such vessels by 2023.