ADNOC Logistics & Services has placed a newbuilding order for four next-generation liquefied natural gas carriers valued at AED 3.3 billion, with delivery scheduled for 2029.
The vessels, each with a capacity of 175,000 cubic metres, will be constructed at Shanghai's Jiangnan Shipyard and are earmarked for long-term charter deployment. The order expands the Abu Dhabi-listed company's total LNG newbuild programme to 18 vessels, complementing six carriers already delivered under a prior AED 4.4 billion tranche, five of which are operating on contracts of up to 15 years with ADNOC Gas. A further eight LNG carriers, representing an AED 9.1 billion investment, remain under construction for delivery from 2028 on 20-year time charters.
The additional capacity is designed to support ADNOC L&S's recently launched LNG marketing and trading platform, which targets combined marketable volumes of 47 million tonnes per annum by 2035. Including its 50% share of the AW Shipping joint venture with China's Wanhua Chemical Group – covering four Very Large Ammonia Carriers and nine Very Large Ethane Carriers – ADNOC L&S has committed more than AED 18.3 billion to fleet expansion since 2022.
Gulf Economist Staff Writer