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ADNOC Logistics & Services said in a statement that it had awarded contracts to Samsung Heavy Industries and Hanwha Ocean for the construction of up to 10 liquefied natural gas carriers in a deal valued at up to $2.5 billion. Each yard will build four firm vessels with an option for one additional carrier, the company reported, with deliveries scheduled to begin in 2028. The new vessels will enter long-term time charters of 20 years with ADNOC Group subsidiaries, according to the announcement, boosting the operator’s capacity on key energy trade routes.
The vessels will each have a capacity of 174,000 cubic meters and incorporate MEGA/XDF2.2 engines along with advanced sustainability features that include cargo conditioning systems, boil-off gas routing, real-time emissions monitoring and methane reduction technology. ADNOC L&S stated that these specifications will improve fuel efficiency and support lower carbon intensity operations across its fleet. The order forms part of a broader medium-term investment program that the company has revised upward to more than $5 billion, the statement noted.
Captain Abdulkareem Al Masabi, chief executive officer of ADNOC L&S, said in the statement, “The shipbuilding contracts with Samsung Heavy Industries and Hanwha Ocean are major steps forward in our transformational growth strategy, demonstrating ADNOC L&S’ steadfast commitment to value-accretive strategic investments.” Al Masabi added that the company had committed to over 50 percent of its medium-term strategic investment target within one year of its record-breaking initial public offering in 2023. He further noted that the carriers would employ cutting-edge technology to increase fuel efficiencies and achieve carbon intensity reductions in line with the company’s sustainability goals.
The expansion will lift ADNOC L&S’s LNG carrier fleet from 14 vessels to at least 22 once all options are exercised, according to the company’s figures. ADNOC L&S, which operates as a global leader in integrated maritime energy logistics, serves more than 100 customers in over 50 countries through its shipping, logistics and marine services divisions. The investment follows $3.9 billion already allocated to organic growth capital expenditure and a $1.4 billion acquisition of Navig8, the statement showed.
Al Masabi told the company newsroom that the new carriers would open opportunities for customer and geographical expansion while unlocking increased value for shareholders. The partnership with the two South Korean shipyards also strengthens industrial ties between the UAE and South Korea, he added. ADNOC L&S has pursued parallel fleet growth in other segments, taking delivery of multiple next-generation LNG carriers from Chinese yards in 2025 and 2026 as part of the same modernization drive, according to subsequent updates from the Emirates News Agency.
Global LNG trade has continued to expand, with the order supporting ADNOC’s integrated value chain as the group advances its own production growth targets. The company has aligned the fleet investment with ADNOC Group’s 2045 net zero ambition through enhanced decarbonization measures on the newbuilds. ADNOC L&S maintains that the program positions it to meet rising demand for reliable and lower-emission energy transport across international markets.
