ADNOC L&S orders two additional LNG carriers, continuing rapid expansion of fleet

Abu Dhabi-based ADNOC Logistics & Services plc has announced the exercise of options for two additional next-generation LNG carriers from Jiangnan Shipyard in Shanghai, China, for a total value of USD 444 million.

Each vessel has a capacity of 175,000 m³, with delivery

scheduled in 2029. Upon delivery, the new vessels are expected to be deployed on long-term charters.

Including this latest investment, ADNOC L&S has announced approximately USD 2.7 billion in vessel acquisitions and newbuild commitments in 2026.

In early August, the company announced the acquisition of five modern Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs) for a combined investment of approximately USD 1.3 billion (AED 4.8 billion). Nine of the vessels - six VLCCs and three VLGCs - were acquired on the secondary market and are scheduled for delivery in Q3 2026, entering service with ADNOC immediately following delivery. The remaining two VLGCs are newbuild vessels acquired through a resale transaction from a leading Chinese shipyard, with delivery scheduled for Q4 2026.

The previous month, the company announced an order for four next-generation LNG carriers with a total value of approximately USD 900 million.

With the latest acquisitions, ADNOC L&S’ LNG carrier fleet now sits at 24 vessels, including four legacy vessels, six next-generation carriers delivered since Q4 2024, and an additional 14 under construction.

ADNOC L&S says that strong profitability and cash generation continue to support its investment in fleet expansion. The company reported a record Q2 net profit of USD 951 million.