ADNOC lines up LNG carrier newbuilds at South Korean yards

ADNOC Logistics & Services (ADNOC L&S) has sealed a deal to boost its LNG carrier fleet with at least six more newbuilds.

The shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC) has inked letters of intent with Samsung Heavy Industries and Hanwha Ocean for three ships each, valued in total at about $1.5bn with options for four additional newbuilds.

The press office of South Korean President Yoon Suk Yeol revealed the deal as part of a larger trade agreement signed between the country and the United Arab Emirates at a summit on Wednesday.

ADNOC L&S already has six 175,000 cu m units under construction at China’s Jiangnan Shipyard due for delivery across 2025 and 2026.