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MEOG TENDERS MEOG
ADNOC orders two LNG
tankers from Shanghai yard
UAE ADNOC orders two LNG tankers from Shang- China’s Wanhua Chemical Group.
hai yard Abu Dhabi National Oil Co. (ADNOC) However, this is the first deal for a Chinese
has confirmed it is to order two 175,000 cubic yard solely with a non-Chinese, international
metre LNG tankers from Shanghai’s Jiangnan gas major.
Shipyard as part of plans to expand its shipping Shanghai’s Jiangnan yard is owned by China
fleet and to raise LNG production. State Shipbuilding Corporation.
ADNOC Logistics & Services (ADNOC Over the past two years, ADNOC L&S has
L&S), the company’s shipping unit, said on April acquired 16 deep sea vessels, including eight
12 that it had signed a contract for the construc- Very Large Crude Carriers with 16mn bar-
tion of two 175,000 cubic metre LNG vessels rels of capacity, and six product tankers, which
expected and that they would be delivered in expanded the product tanker fleet capacity to
2025. over 1mn tonnes.
ADNOC said that the new vessels would sup- The deal comes as European buyers are
port its existing LNG business and its ambitions looking to source gas from non-Russian sup-
to grow its LNG production capacity. pliers after the EU has declared it will reduce
“The expansion and modernization of our its imports of gas from Russia, with a total halt
LNG fleet will be a key enabler of ADNOC L&S’ to Russian gas imports from Russia possible by
growth strategy. This acquisition helps future- 2025.
proof our fleet with more sustainable, modern Last week ADNOC L&S announced it had
vessels capable of serving our customers for the signed a five-year deal to operate a new facility
next 25 years and deepens our partnership with at the emirate’s eastern Khalifa Industrial Zone
Jiangnan Shipyard,” said Captain Abdulkareem (KIZAD) that will store petrochemical products.
Al Masabi, CEO of ADNOC L&S. The facility will be used to store polyolefin
The vessels will be significantly larger than products for ADNOC’s Abu Dhabi Polymers Co.
ADNOC’s existing ships, which have a capacity (Borouge) joint venture (JV) with Austria’s Bore-
of 137,000 cubic metres, and will used 10% less alis, whose facilities are located in the Ruwais
fuel. downstream hub in the west of Abu Dhabi.
The acquisition of larger, more energy effi- ADNOC L&S said the unit would “allow Bor-
cient vessels will allow ADNOC L&S to meet ouge to serve its global polymers export markets
growing customer demand while improving the thanks to its strategic location in KIZAD, and its
environmental footprint of its fleet. close proximity to Khalifa Port”. It added that AD
The new vessels’ engine technology will slash Ports would run the facility’s “operations serv-
emissions ( CO2, NOX and SOX ) and in com- ing the needs of Borouge as the end-user”, while
bination with the innovative Air Lubrication ADNOC L&S will be the “primary owner”.
System further reduce fuel consumption by at The ADNOC subsidiary said it bought the
least 10%. facility from AD Ports earlier this year, noting
Jiangnan Shipyard has already built five Very that at 180,000 square km, the unit is one of the
Large Gas Carriers (VLCCs) for AW Shipping, largest advanced polymers storage facilities in
ANDOC L&S’ joint venture company with the world.
Week 15 13•April•2022 www. NEWSBASE .com P11
