ADNOC Logistics & Services has signed contracts for $4.4 billion in order to build 23 supertankers that will transport ethane and ammonia, as well as liquefied gas. This was reported by the UAE state news agency on Thursday.

ADNOC CEO Abdulkareem Al Masabi stated that the company, through its AW Shipping joint-venture, awarded contracts to Jiangnan Shipyard worth $1.9 billion for nine Very Large Ethane Carriers and four Very Large Ammonia Carriers.

ADNOC L&S has also signed contracts with Samsung Heavy Industries of Korea and Hanwha Ocean for the construction of up to 10 LNG carriers. This will further enhance its ability to meet demand worldwide for low-carbon fuels, said CEO. Reporting by Ahmed Tolba & Clauda Tanios. Jane Merriman edited the article.

(source: Reuters)