ADNOC L&S Signs $4.4 Billion Deal for 23 LNG, Ethane, and Ammonia Supertankers
11/7/2024
(Reuters) — 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.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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