How much has ADNOC spent on yet-to-be-built vessels in 2024, and what is the latest purchase within that spree?

ADNOC has spent $2.7 billion on vessels yet to be built in 2024, according to the statement; its latest purchase is $444 million for two newbuild liquefied natural gas (LNG) carriers, scheduled for delivery in 2029.

Why is ADNOC expanding its owned LNG fleet amid regional tensions, and what strategic advantage does fleet ownership provide?

ADNOC is expanding its owned LNG fleet amid heightened regional tensions—specifically the Iran war—which has increased focus on controlling energy transport logistics globally; owning its own ships has enabled ADNOC to more reliably move barrels through the Strait of Hormuz, especially after the waterway was choked off at the start of the conflict.

ADNOC Extends $2.7 Billion Ship-Buying Spree as UAE Exports Soar

Aug 25, 2026

ADNOC spent $2.7 billion on vessels this year, adding two new LNG carriers to support expanding energy exports amid geopolitical tensions and OPEC withdrawal plans. The company now operates 24 LNG carriers with more under construction.

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