22FEB2019 - NEWS - ADNOC Logistics & Services inks agreement with Wanhua Petrochemical of China to form a joint venture to operate LPG tankers

ADNOC Logistics & Services (ADNOC L&S) has recently signed an agreement with China’s Wanhua Petrochemical to form a joint venture which would own and operate LPG tankers. The parties said they signed a Memorandum of Understanding to explore the creation of the JV “to pave the way for the transport of greater gas volumes in line with market demand". Wanhua Petrochemical is an existing customer of ADNOC L&S’ parent firm, the Abu Dhabi National Oil Company, having signed 10-year LPG purchase contract for 1 million metric tons per annum (mtpa) in November 2018.

Published by Editor - www.Livebunkers.com at 22-Feb-2019 05:34:40 [UTC] , contact editor at editor@livebunkers.com