Adnoc L&S expands shipping fleet with acquisition of two LNG vessels

Adnoc L&S expands shipping fleet with acquisition of two LNG vessels

Adnoc Logistics & Services (Adnoc L&S), the shipping and maritime logistics arm of the Abu Dhabi National Oil Company (Adnoc), announced on Tuesday 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. The purchase, part of the company’s broader growth and expansion strategy, further reinforces its position as the UAE’s leading shipping and maritime operator. The new LNG vessels will be crucial enablers of Adnoc’s 2030 growth strategy, supporting its existing LNG business and its ambitions to grow its Liquefied Natural Gas (LNG) production capacity. They will be built at the Jiangnan Shipyard in China. In 2020, Adnoc L&S started a strategic growth programme to expand and diversify its shipping fleet and offer a broader service to its customers while supporting and enabling the growth of Adnoc’s upstream production capacity and the expansion of its downstream and petrochemical operations. Adnoc L&S has the largest and most diversified fleet of vessels within the Middle East. Its trading fleet transports crude oil, refined products, dry bulk, containerised cargo, LPG, and LNG to global markets through its owned chartered vessels. Captain Abdulkareem Al Masabi, CEO of Adnoc L&S,