ADNOC Logistics & Services PLC Awarded $2.5 Billion Contracts for New LNG Carriers with Samsung Heavy Industries and Hanwha Ocean

ADNOC Logistics & Services PLC (ADNOC) recently announced that it has awarded contracts worth up to AED 9.2 billion ($2.5 billion) to South Korea’s 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.

The new LNG carriers will be equipped with the latest technologies to enhance fuel efficiency and reduce carbon emissions, in alignment with ADNOC’s sustainability goals. 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 L&S’s leadership in reducing carbon emissions from maritime operations.

This acquisition demonstrates ADNOC Logistics & Services’ commitment to growth and value creation, following its IPO and recent acquisition of Navig8 for AED 5 billion. The company is focused on delivering its medium-term investment targets and is committed to investing over AED 18.4 billion in maritime and energy logistics to meet rising demand in the UAE and beyond. 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.