ADNOC Orders 3 Large Gas Carriers for US$324 Million

en.Wedoany.com Reported - On October 6, ADNOC Logistics & Services (ADNOC L&S) signed newbuilding contracts for 3 Very Large Gas Carriers (VLGCs), with a total investment of approximately AED 1.19 billion, equivalent to about US$324 million. Each of the 3 vessels has a capacity of 90,000 cubic meters, adding a total of 270,000 cubic meters of gas transportation capacity, with delivery scheduled for the second half of 2029.

Upon delivery, the 3 new vessels will be directly deployed under a 7-year transportation contract signed with ADNOC Global Trading. This long-term contract has been secured in parallel with the current newbuilding investment, placing the vessels into established commercial operating arrangements from the delivery stage. Currently available public information does not disclose the value of the 7-year contract, the specific cargo types, routes, or the vessels' propulsion systems and fuel configurations.

After completing the acquisition of 5 Very Large Gas Carriers and 6 Very Large Crude Carriers in August this year, ADNOC L&S's VLGC fleet increased to 12 vessels. Upon delivery of the 3 new vessels in 2029, the company's owned large gas transportation capacity will be further increased. Previously, in July, the company also ordered 4 liquefied natural gas carriers of 175,000 cubic meters each, with delivery also scheduled for 2029.