en.Wedoany.com Reported - ADNOC Logistics and Services plc has announced an additional order for four next-generation liquefied natural gas (LNG) carriers, with a total value of approximately $900 million (AED 3.3 billion). Each vessel has a capacity of 175,000 cubic meters and is scheduled for delivery in 2029, to be built by Shanghai's Jiangnan Shipyard.
The contract was signed in Shanghai, with the ceremony witnessed by H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC; H.E. Hussain Al Hammadi, UAE Ambassador to China; H.E. Hassan Al Nowais, Deputy Minister of Industry and Advanced Technology; Mr. Wang Guoqiang, General Manager of China State Shipbuilding Corporation (CSSC); and Mr. Kou Guangwu, President of Wanhua Chemical. The signatories were Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, and Mr. Xiao Wenlin, CEO of Jiangnan Shipyard.
Captain Abdulkareem Al Masabi stated that as global gas demand continues to rise, this order reflects the company's confidence in the strong fundamentals of the LNG shipping market. Building on profitable growth and diversified operations, the company is investing in a next-generation fleet to efficiently connect key supply sources with high-growth demand centers, while supporting the global energy transition.
The latest order brings ADNOC L&S's total LNG newbuilding projects to 18 vessels, underscoring its commitment to building one of the world's most advanced and efficient LNG carrier fleets. ADNOC L&S has already taken delivery of six 175,000-cubic-meter LNG carriers from Jiangnan Shipyard, valued at $1.2 billion (AED 4.4 billion), five of which have been deployed under 15-year contracts with ADNOC Gas, providing stable and predictable revenue since May 2026. These four additional LNG carriers are expected to be deployed under long-term charters, enhancing future revenue visibility and supporting stable energy flows to global markets.
Mr. Xiao Wenlin, CEO of Jiangnan Shipyard, stated that ADNOC L&S's continued trust in Jiangnan Shipyard, following previous orders for six LNG carriers, nine very large ethane carriers (VLECs), four very large ammonia carriers (VLACs), and earlier five very large gas carriers (VLGCs), highlights the long-term partnership and commitment to jointly delivering world-class vessels.
During H.E. Dr. Sultan Al Jaber's visit to Jiangnan Shipyard, ADNOC L&S celebrated the delivery of the first of four very large ammonia carriers (VLACs). In 2024, AW Shipping, a joint venture between ADNOC L&S and Wanhua Chemical Group, ordered four VLACs and nine VLECs for $1.9 billion (AED 7 billion), with two delivered in 2025. At the naming ceremony, ADNOC L&S Business Excellence Analyst Rayan Al Shami served as the vessel's "godmother." The vessel has a carrying capacity of 93,000 cubic meters, making it one of the world's largest ammonia carriers.
An additional eight LNG carriers, with an investment of approximately $2.5 billion (AED 9.2 billion), are being built at Samsung Heavy Industries and Hanwha Ocean. These vessels are scheduled for delivery starting in 2028 and are all under 20-year time charter contracts with ADNOC Gas.
Including its 50% share in the AW Shipping newbuilding program, ADNOC L&S has committed over $5 billion to fleet expansion since 2022. The company makes investment decisions based on long-term customer demand and contracted revenue, providing earnings visibility while supporting sustainable shareholder value.
The new vessels will enhance ADNOC L&S's ability to deliver LNG to global customers, supporting ADNOC's broader LNG growth strategy and its recently launched global LNG marketing and trading platform, targeting a total marketable LNG volume of 47 million metric tons per year (47 MMtpy) by 2035.
