Skip to main content

ADNOC L&S secures $4.4 billion contracts for 23 supertankers

1 min

ADNOC Logistics & Services signed contracts worth $4.4 billion to build 23 supertankers for ethane, ammonia and liquefied natural gas, the UAE's state news agency reported on Thursday.

ADNOC L&S also signed contracts worth $2.5 billion with Korea’s Samsung Heavy Industries and Hanwha Ocean

ADNOC Logistics & Services signed contracts worth $4.4 billion to build 23 supertankers for ethane, ammonia and liquefied natural gas, the UAE's state news agency reported on Thursday.

ADNOC's CEO Abdulkareem Al Masabi said the company through its AW Shipping joint venture awarded contracts worth $1.9 billion to build nine Very Large Ethane Carriers (VLECs) and four Very Large Ammonia Carriers (VLACs) with Jiangnan Shipyard in China.

ADNOC L&S also signed contracts worth $2.5 billion with Korea’s Samsung Heavy Industries and Hanwha Ocean to build up to 10 LNG carriers, further enhancing its ability to meet global demand for low-carbon energy, CEO also said.

Reporting by Ahmed Tolba and Clauda Tanios

Tags

Related

United Arab Emirates

Dubai property prices soar by 27% year-on-year

Dubai's real estate market has closed 2024 on a record-breaking note, reaching an unprecedented 180,900 transactions worth AED 522.1 billion, according to a market report issued by fäm Properties.

Egypt

Egypt’s food exports break records with $5.5 billion

Egypt's food industry has achieved unprecedented growth in 2024, with exports totaling $5.5 billion between January and November. This represents a 17% increase compared to the $4.7 billion recorded during the same period in 2023, marking an additional $813 million in revenue.

Subscribe to our newsletter

Mena banner 4

To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.

  • Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.