Photo Credit : WAM
ADNOC Logistics and Services (ADNOC L&S) has announced a major expansion of its liquefied natural gas (LNG) fleet with an order for four next-generation LNG carriers valued at approximately US$900 million (AED3.3 billion), reinforcing its strategy to meet growing global demand for cleaner energy.
The new vessels, each with a cargo capacity of 175,000 cubic metres, will be built by Jiangnan Shipyard in Shanghai, China, with deliveries scheduled for 2029. The expansion is aimed at strengthening ADNOC L&S’ ability to transport increasing LNG supplies to key international markets efficiently.
The contract was signed in Shanghai during a ceremony attended by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, alongside senior UAE and Chinese officials. The agreement was signed by Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, and Xiao Wenlin, CEO of Jiangnan Shipyard.
Captain Al Masabi said the investment reflects confidence in the long-term outlook for LNG shipping as global natural gas demand continues to rise. He added that expanding the company’s next-generation fleet will strengthen connections between major supply sources and fast-growing demand centres while supporting the global energy transition.
The latest order increases ADNOC L&S’ LNG newbuild programme to 18 vessels, highlighting its ambition to operate one of the world’s most advanced LNG fleets. The company has already received six LNG carriers from Jiangnan Shipyard, with five currently operating under contracts of up to 15 years with ADNOC Gas, generating stable long-term revenues since May 2026.
The four newly ordered vessels are also expected to operate under long-term charter agreements, providing greater revenue visibility while ensuring reliable LNG deliveries to international customers.
Jiangnan Shipyard CEO Xiao Wenlin said ADNOC L&S’ continued investment demonstrates the strong partnership between the two companies, noting previous orders covering LNG carriers, Very Large Ethane Carriers (VLECs), Very Large Ammonia Carriers (VLACs) and Very Large Gas Carriers (VLGCs).
During his visit to Jiangnan Shipyard, Dr. Al Jaber also marked the delivery of the first of four Very Large Ammonia Carriers (VLACs). The vessel, with a carrying capacity of 93,000 cubic metres, ranks among the world’s largest ammonia carriers and forms part of a broader fleet expansion programme launched through AW Shipping, the joint venture between ADNOC L&S and Wanhua Chemical Group.
Meanwhile, another eight LNG carriers, representing an investment of approximately US$2.5 billion (AED9.2 billion), remain under construction at Samsung Heavy Industries and Hanwha Ocean. These vessels are scheduled for delivery from 2028 and have already secured 20-year charter agreements with ADNOC Gas.
Since 2022, ADNOC L&S has committed more than US$5 billion to expanding its fleet, including its share in the AW Shipping programme. The company said its investment strategy is based on long-term customer demand and contracted revenues, providing strong earnings visibility while supporting sustainable shareholder returns.
The latest fleet expansion also supports ADNOC’s wider LNG growth strategy and its global LNG marketing and trading platform, which aims to reach 47 million tonnes per annum (mtpa) of combined marketable LNG capacity by 2035.
