ADNOC Expands its LNG Fleet with Samsung and Hanwha Ocean Contracts Worth AED 9.2 Billion

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 to construct new LNG carriers. This move is part of ADNOC’s growth strategy and fleet expansion plans.

The contracts include the construction of four tankers with an option for an additional one, with delivery expected from 2028. These vessels will be chartered to ADNOC Group companies for 20 years to support the increase in natural gas production. With this addition, ADNOC’s LNG fleet will expand from 14 to at least 22 vessels. The company is focused on delivering its medium-term investment targets following its IPO and is committed to investing over AED 18.4 billion in maritime and energy logistics to meet rising demand in the UAE and beyond.

In line with its sustainability goals, the new LNG carriers will be equipped with the latest technologies to enhance fuel efficiency and reduce carbon emissions. They will have a capacity of 174,000 cubic meters each and will utilize advanced engines and systems to achieve optimal performance. These vessels will be among the most fuel-efficient in the world, showcasing ADNOC Logistics & Services’ 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. The recent acquisition of Navig8 for AED 5 billion demonstrates this commitment, as well as its focus on delivering value for its shareholders while also meeting the needs of its customers in the UAE and beyond.