ADNOC Logistics & Services Awards $2.5 Billion Contracts for New LNG Carriers, Expanding Its Fleet and Advancing Sustainability Goals

In recent news, ADNOC Logistics & Services PLC (ADNOC) has awarded contracts worth up to AED 9.2 billion ($2.5 billion) to Samsung Heavy Industries and Hanwha Ocean for the construction of new LNG carriers. This move is in line with ADNOC’s growth strategy and fleet expansion plans. The contracts include the construction of four tankers with an option for an additional one, expected to be delivered from 2028. These vessels will be chartered to ADNOC Group companies for 20 years, supporting the increase in natural gas production.

The addition of these new tankers will expand ADNOC Logistics & Services’ LNG fleet from 14 to at least 22 vessels. The company is focused on meeting its medium-term investment targets following its IPO and has committed to investing over AED 18.4 billion in maritime and energy logistics to meet rising demand in the UAE and beyond. The recent acquisition of Navig8 for AED 5 billion demonstrates the company’s commitment to growth and value creation.

The new LNG carriers will be equipped with the latest technologies to enhance fuel efficiency and reduce carbon emissions, aligning with ADNOC’s sustainability goals. They will have a capacity of 174,000 cubic meters each and utilize advanced engines and systems to achieve optimal performance. These vessels will be among the most fuel-efficient in the world, showcasing ADNOC L&S’s leadership in reducing carbon emissions from maritime operations.

By partnering with South Korea’s leading shipyards, ADNOC Logistics & Services is strengthening its industrial relationships and positioning itself as a key player in the global LNG transportation market. The company’s commitment to innovation, sustainability, and value creation is evident in its strategic investments and growth initiatives