ADNOC Logistics & Services (ADNOC L&S) has returned to a Chinese shipyard to sign a $900 million contract for four new liquefied natural gas (LNG) carriers, aiming to expand its fleet to meet the growing global demand for natural gas.
On July 10, ADNOC L&S announced that the contract was signed during a visit by Sultan Ahmed Al Jaber—UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC—to CSSC Jiangnan Shipyard.
The new vessels, each with a capacity of 175,000 cubic meters, are scheduled for delivery in 2029; this latest order brings the total number of newbuild LNG carriers ordered by ADNOC L&S to 18.
Prior to this order, ADNOC L&S had already placed orders with Jiangnan Shipyard for six LNG carriers, nine Very Large Ethane Carriers (VLECs), four Very Large Ammonia Carriers (VLACs), and five Very Large Gas Carriers (VLGCs).
ADNOC L&S has taken delivery of all six 175,000-cubic-meter LNG carriers—valued at a total of $1.2 billion—from Jiangnan Shipyard; five of these vessels are chartered to ADNOC Gas under contracts lasting up to 15 years. The four additional next-generation LNG carriers are expected to be deployed under long-term charter agreements, enhancing future revenue predictability and supporting the stable supply of energy to global markets.
Coinciding with the signing of the new vessel contract, a delivery ceremony was held for the “Meera”, the first of the four 93,000-cubic-meter VLACs.
In 2024, AW Shipping—a joint venture between ADNOC L&S and Wanhua Chemical—placed an order with Jiangnan Shipyard for four VLACs and nine VLECs, with a total value of $1.9 billion; two of these vessels are scheduled for delivery in 2025.
ADNOC L&S disclosed that another eight LNG carriers are currently under construction at South Korea’s Samsung Heavy Industries and Hanwha Ocean. Representing a total investment of approximately $2.5 billion, these vessels are scheduled for staggered delivery starting in 2028, with all of them secured under 20-year time charters with ADNOC Gas.
Since 2022, ADNOC L&S has invested over $5 billion in the construction of 32 new vessels—including a 50% stake in the AW Shipping newbuild program. Of these, nine have already been delivered, while the remaining 23 are slated for delivery by 2029.
In May, the company stated that it would press ahead with its fleet expansion and modernization strategy, despite significant disruptions in the Strait of Hormuz caused by the conflict involving Iran. Late last month, ADNOC L&S raised its full-year financial guidance for 2026, driven by strong shipping performance and steady improvements in its offshore logistics business; net profit is now projected to surge by more than 60%, far exceeding previous expectations.