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UAE’s Adnoc L&S orders 4 new LNG carriers in Dh3.3 billion fleet expansion
Company's LNG newbuild programme grows to 18 vessels as it takes delivery of its first very large ammonia carrier, supporting Adnoc's expanding global LNG business.
- PUBLISHED: Fri 10 Jul 2026, 11:33 AM UPDATED: Fri 10 Jul 2026, 2:00 PM
Adnoc Logistics & Services (Adnoc L&S) has ordered four next-generation liquefied natural gas (LNG) carriers worth approximately Dh3.3 billion ($900 million) as it accelerates the expansion of its global fleet to meet rising demand for LNG transportation.
The four vessels, each with a capacity of 175,000 cubic metres, will be built at Jiangnan Shipyard in Shanghai and are scheduled for delivery in 2029. The ships will support Adnoc's recently launched global LNG marketing and trading platform, which aims to reach 47 million tonnes per annum of marketable LNG by 2035.
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The agreement was signed during a visit to China by Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Adnoc Managing Director and Group CEO.
Captain Abdulkareem Al Masabi, Chief Executive Officer of Adnoc L&S, said the latest investment reflects confidence in the long-term fundamentals of the LNG shipping market.
"As global demand for natural gas continues to rise, this latest order reflects our confidence in the strong fundamentals of the LNG shipping market. 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," he said.
Fleet expansion gathers pace
The latest order increases Adnoc L&S' LNG newbuild programme to 18 vessels, reinforcing its ambition to build one of the world's most advanced LNG shipping fleets.
The company has already taken delivery of six LNG carriers from Jiangnan Shipyard, with five operating under contracts of up to 15 years with Adnoc Gas. The four newly ordered vessels are also expected to operate under long-term charters, providing greater earnings visibility and supporting reliable energy supplies to global markets.
During the visit, Adnoc L&S also marked the delivery of the first of four Very Large Ammonia Carriers (VLACs) being built through AW Shipping, its joint venture with China's Wanhua Chemical Group.
With a carrying capacity of 93,000 cubic metres, the vessel is among the world's largest ammonia carriers.
Upgraded outlook supports investment
The fleet expansion comes weeks after Adnoc L&S upgraded its financial outlook for 2026 following stronger-than-expected performance during the first half of the year.
The company now expects revenue to post low single-digit growth in 2026, compared with its previous guidance for a low-to-mid single-digit decline. It also raised its profitability outlook, forecasting Ebitda growth in the high-20 per cent range and net profit growth in the high-60 per cent range, supported by continued strength in its shipping business and improving activity across its offshore logistics operations.
Since 2022, Adnoc L&S has committed more than $5 billion to fleet expansion across 32 vessels, with nine already delivered and the remaining 23 scheduled for delivery by 2029.
The company said the new vessels will feature advanced fuel-efficient designs aimed at improving operational efficiency and reducing emissions, supporting lower-carbon energy transportation.
