ADNOC L&S spends $1.3 billion on 11 vessels to expand global energy shipments

Dubai: ADNOC Logistics & Services is investing about $1.3 billion, equivalent to Dh4.8 billion, to acquire 11 vessels and expand its capacity to transport crude oil and gas across global markets.

The acquisition includes five modern Very Large Gas Carriers and six Very Large Crude Carriers, strengthening the company’s ability to support ADNOC Group’s production, trading and export growth.

Nine vessels are scheduled to join the fleet during the third quarter of 2026, while the remaining two are due for delivery before the end of the year.

Nine vessels to enter service immediately

Six crude carriers and three gas carriers were acquired from the secondary market and are scheduled for delivery in the third quarter.

The vessels will begin operating for ADNOC immediately after delivery, providing additional shipping capacity during the current financial year.

Two more gas carriers were acquired as newbuild vessels through a resale transaction with a leading Chinese shipyard. Their delivery is scheduled for the fourth quarter of 2026. The acquisitions will increase ADNOC L&S’ fleet of Very Large Crude Carriers to 14 vessels and its fleet of Very Large Gas Carriers to 12.

The additional vessels will give ADNOC L&S greater scale and flexibility across its shipping operations while providing near-term operational and earnings potential.

The investment also expands the maritime capacity available to ADNOC Group as it increases production, trading activity and export volumes across its integrated energy value chain.