ADNOC Logistics & Services (ADNOC L&S) has announced a $900 million (Dh3.3 billion) investment to acquire four new liquefied natural gas (LNG) carriers, further expanding its fleet as the company accelerates its global LNG shipping and trading operations.
The four vessels, each with a cargo capacity of 175,000 cubic metres, will be built by Jiangnan Shipyard in Shanghai and are scheduled for delivery in 2029. According to the company, the carriers are expected to operate under long-term charter agreements, supporting the growing global demand for LNG transportation.
The latest order increases ADNOC L&S' LNG newbuild programme to 18 vessels and raises the company's total fleet investment commitments since 2022 to more than $5 billion.
Commenting on the announcement, Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said the investment reflects the company's confidence in the long-term outlook for the LNG shipping industry.
He noted that the next-generation fleet will help connect major gas-producing regions with fast-growing international markets while supporting the global energy transition.
The expansion follows earlier investments by ADNOC L&S, including a $1.2 billion order for LNG carriers from Jiangnan Shipyard. Six of those vessels have already been delivered, with five currently operating under long-term agreements with ADNOC Gas.
The company is also building eight additional LNG carriers through Samsung Heavy Industries and Hanwha Ocean under contracts valued at approximately $2.5 billion. Those vessels are expected to begin delivery in 2028 and will operate under 20-year charter agreements with ADNOC Gas.
The expanded fleet is expected to play a key role in supporting ADNOC's ambition to market 47 million tonnes of LNG annually by 2035 through its recently launched global LNG marketing and trading platform.
Including its participation in the AW Shipping joint venture, ADNOC L&S has committed more than $5 billion toward 32 new vessels since 2022. To date, nine vessels have been delivered, while 23 additional ships are expected to join the fleet by the end of 2029.
The agreement for the four new LNG carriers was signed during a visit by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, to Jiangnan Shipyard in Shanghai, underscoring the company's continued investment in strengthening its global energy logistics network.
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