ADNOC invests 1.63B in gas carriers

Adnoc Logistics and Services announced the purchase of two new next-generation liquefied natural gas (LNG) carriers, with a total value of approximately AED 1.63 billion (USD 444 million), and plans to deliver them by 2029. This agreement is part of the company's strategy to expand its fleet and enhance its capabilities to keep pace with the expected growth in the global LNG trade. Upon delivery of these two new vessels, the company's total LNG carrier fleet will reach 24 ships. This acquisition is part of a AED 9.9 billion (USD 2.7 billion) investment scheduled for 2026, aimed at securing stable future revenue streams through long-term leasing contracts and meeting the increasing demand for gas transportation in Asian and European markets.

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