ADNOC Buys 11 Supertankers for $1.3 Billion to Expand Export Fleet

ADNOC has bought 11 very large crude and gas carriers for $1.3 billion as the national oil company of Abu Dhabi continues to expand its fleet of supertankers to boost crude and LNG exports. ADNOC’s unit ADNOC Logistics & Services plc on Friday announced it had acquired five modern Very Large Gas Carriers (VLGCs) and six Very Large Crude Carriers (VLCCs) for a combined investment of about $1.3 billion. Nine of the vessels, six VLCCs and three VLGCs, were acquired on the secondary market. They are scheduled for delivery this quarter and…

LNG Market Background

The global LNG market has undergone a structural transformation in recent years, with U.S. exports reshaping trade flows and providing consuming nations with greater supply optionality. European buyers have accelerated long-term LNG contracting following the disruption of Russian pipeline gas supplies.

New LNG liquefaction capacity — from the U.S. Gulf Coast, Qatar's North Field expansion, and Australian projects — is expected to add significant supply volumes through the late 2020s, with implications for long-term contract pricing and spot market dynamics.

What to Watch

Stakeholders will be tracking spot LNG cargo pricing in Asian and European markets, liquefaction plant utilization rates, and upcoming long-term supply contract negotiations as global LNG trade flows continue to evolve.