ADNOC awards contracts for eight LNG carriers

ADNOC Logistics and Services PLC (ADNOC L&S) last week awarded South Korean shipyards Samsung Heavy Industries and Hanwha Ocean up to $2.5 billion shipbuilding contracts for the construction of new LNG carriers as part of its growth strategy and fleet expansion plans.

Each of Samsung Heavy Industries and Hanwha Ocean were awarded shipbuilding contracts for the construction of four firm 174,000-cu m vessels with the option for an additional one. The vessels are expected to be delivered beginning 2028 and will be time chartered to ADNOC Group subsidiaries for 20 years. The new vessels will increase ADNOC’s fleet of LNG carriers from 14 to at least 22.

ADNOC L&S said it intends to invest more than $5 billion in energy-related maritime logistics over the medium term to meet growing demand in and beyond the UAE.