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ADNOC Logistics & Providers (ADNOC L&S) has awarded building contracts for at the least eight LNG carriers to Samsung Heavy Industries and Hanwha Ocean.
The delivery and maritime logistics arm of Abu Dhabi Nationwide Oil Firm (ADNOC) mentioned that every of Samsung Heavy Industries and Hanwha Ocean have been awarded shipbuilding contracts for the development of 4 agency vessels with the choice for a further one. The offers are price $2.5bn in whole.
The vessels are anticipated to be delivered in the beginning of 2028 and will likely be time chartered to ADNOC subsidiaries for 20 years to assist the rising export volumes of pure fuel. These vessels will improve the corporate’s fleet of LNG carriers from 14 to at the least 22 vessels.
The LNG carriers will every have a capability of 174,000 cu m and have MEGA and XDF2.2 engines in addition to a cargo conditioning system designed to cut back LNG cargo evaporation whereas in transit. Techniques may even be in place for direct cargo boil-off of gasses to the engines which is able to improve gas effectivity and reduce gas consumption.
ADNOC L&S already has six 175,000 cu m models below building at China’s Jiangnan Shipyard due for supply throughout 2025 and 2026.
These contracts have been awarded following letters of intent awarded to the 2 corporations earlier this 12 months. On the time, the settlement was to construct three ships every, valued in whole at about $1.5bn with choices for 4 further newbuilds.
The corporate added that it has now dedicated to over 50% of its medium-term strategic funding goal one 12 months put up its IPO in 2023. Following its sturdy first quarter of the 12 months, ADNOC L&S has revised its progress steerage upwards and now intends to take a position over $5bn in energy-related maritime logistics over the medium time period.
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