ADNOC L&S orders four LNG carriers in $900 million fleet expansion
Four 175,000 cubic metre vessels will join ADNOC L&S’ fleet in 2029
Dubai: ADNOC Logistics and Services has ordered four new liquefied natural gas carriers for about $900 million, or Dh3.3 billion, expanding its fleet as ADNOC builds its global LNG marketing and trading business.
The four vessels will each have a capacity of 175,000 cubic metres and are scheduled for delivery in 2029. They will be built by Jiangnan Shipyard in Shanghai and are expected to operate under long-term charter agreements.
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The latest purchase takes ADNOC L&S’ LNG newbuild programme to 18 vessels and raises its total fleet investment commitments since 2022 to more than $5 billion.
“As global demand for natural gas continues to rise, this latest order reflects our confidence in the strong fundamentals of the LNG shipping market," said Captain Abdulkareem Al Masabi, CEO of ADNOC L&S. "Building on our robust earnings growth and diversified operations, we are investing in a next-generation fleet to efficiently connect key supply sources with high-growth demand centres and support the global energy transformation.”
Six carriers already delivered
ADNOC L&S has received six LNG carriers from Jiangnan Shipyard under an earlier $1.2 billion order.
Five of those vessels have been deployed under contracts lasting up to 15 years with ADNOC Gas, providing contracted revenue since May 2026.
A further eight LNG carriers are being built by Samsung Heavy Industries and Hanwha Ocean under an investment worth about $2.5 billion. Deliveries will begin in 2028, with all eight vessels contracted to ADNOC Gas under 20-year charters.
The fleet expansion will support ADNOC’s target of marketing 47 million tonnes of LNG annually by 2035 through its recently launched global LNG marketing and trading platform.
First ammonia carrier delivered
ADNOC L&S also took delivery of Meera, the first of four Very Large Ammonia Carriers ordered through AW Shipping, its joint venture with China’s Wanhua Chemical Group.
The vessel has a carrying capacity of 93,000 cubic metres, placing it among the world’s largest ammonia carriers.
AW Shipping placed a $1.9 billion order in 2024 for four ammonia carriers and nine Very Large Ethane Carriers. Two of the ethane carriers were delivered in 2025.
Including its 50% share of the AW Shipping programme, ADNOC L&S has committed more than $5 billion across 32 vessels since 2022. Nine vessels have been delivered, while another 23 are due to join the fleet by 2029.
The agreement for the four 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.
