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

Last updated: July 10, 2026 | 10:14

Nivetha Dayanand, Assistant Business Editor

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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.

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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.”

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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.

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.

Nivetha DayanandAssistant Business Editor

Nivetha Dayanand is Assistant Business Editor at Gulf News, covering aviation, financial markets and commodities. A business and financial journalist with a strong interest in multimedia storytelling, she regularly takes complex financial and economic subjects beyond the written word, producing explainer videos that make them easier for a wider audience to understand. Nivetha has interviewed senior policymakers, business leaders and global financial figures both on and off camera. Her past guests include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Khaled bin Alwaleed Al Saud, a member of the House of Saud and the founder and CEO of KBW Ventures, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund and Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu. She has also hosted and moderated panels, conferences and awards shows, bringing her newsroom experience to live conversations on business, finance and the economy. An Erasmus Mundus journalism alum, Nivetha is drawn to stories that affect people directly and to reporting that gives a platform to voices that might otherwise go unheard. She was among the first journalists to speak to Petrofac employees in the UAE about unpaid salaries, broke the news of the planned demolition of Dubai’s well-known “Toyota Building”, and helped set the record straight on widely circulated claims that a giant replica of the Moon was coming to Dubai. More recently, her exclusive interview with EDGE Group CEO Hamad Al Marar revealed how the UAE-based defence group deployed its systems along the country’s shore border and established a geofence around the UAE within 48 hours of the February 28 escalation. Prior to joining Gulf News, Nivetha worked at ITP Media, where she helped launch Finance Middle East, a new publication covering the region’s financial sector. Her role spanned reporting and editing, video production, interviews and events. Across print, digital, and video, she focuses on finding the people behind business stories and explaining why those stories matter to the audience reading or watching them.

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