ADNOC Drops $2.7 Billion on LNG Fleet Expansion Amid Strait of Hormuz Tensions

Adnoc Logistics & Services, the shipping division of Abu Dhabi National Oil Company (ADNOC), has invested $2.7 billion in expanding its fleet this year, with the latest addition being two liquefied natural gas (LNG) carriers worth $444 million. The new vessels are scheduled for delivery in 2029 and will bring Adnoc's total fleet to 24 ships, with 14 more on order.

The investment is part of ADNOC's strategy to boost hydrocarbon output and solidify its position as a reliable energy supplier. With the Strait of Hormuz becoming a critical chokepoint due to geopolitical tensions, having its own fleet has helped Adnoc keep moving cargo during the conflict.

Adnoc's aggressive vessel acquisition program reflects a broader industry trend where energy firms are taking control of their supply chains to mitigate risks from volatile freight rates. By controlling a larger share of its logistics network, ADNOC aims to reduce its exposure to spot-market rates that have spiked dramatically since the war began.