Adnoc L&S announced the order for four 175,000-cbm LNG carriers in a stock exchange filing on Friday.
The firm said that the total value of the order is approximately $900 million, or approximately $225 million per vessel, with the vessels scheduled for delivery in 2029.
In May, LNG Prime reported, citing shipbuilding sources, that Adnoc L&S was expected to order more LNG carriers in China and South Korea, including up to six vessels at Jiangnan.
The deal probably includes two optional vessels.
Adnoc L&S said it expects to deploy the four additional next-generation LNG carriers on long-term charters.
The company said that the new vessels will strengthen its capacity to deliver LNG to customers worldwide, supporting Adnoc’s broader LNG growth strategy and its recently launched global LNG marketing and trading platform, targeting 47 mtpa of combined marketable LNG by 2035.
“As global demand for natural gas continues to rise, this latest order reflects our confidence in the strong fundamentals of the LNG shipping market,” Abdulkareem Al Masabi, CEO of Adnoc L&S, said.
“Building on our robust earnings growth and diversified operations, we are investing in a next-generation fleet to efficiently connect key supply sources with high-growth demand centers and support the global energy transformation,” he added.
The latest order brings Adnoc L&S’s total LNG newbuild program to 18 vessels.
Adnoc L&S has already taken delivery of six 175,000-cbm LNG carriers from Jiangnan, valued at $1.2 billion, with five vessels deployed on contracts of up to 15 years with Adnoc Gas.
A further eight LNG carriers, with an investment of approximately $2.5 billion, are under construction at Samsung Heavy Industries and Hanwha Ocean.
These vessels will join the fleet from 2028 and are all contracted on 20-year time charters to Adnoc Gas.
