In a strategic move to fortify its shipping capabilities in anticipation of a significant surge in liquefied natural gas (LNG) output, QatarEnergy (QATPE.UL) CEO Saad Al Kaabi revealed on Sunday the finalization of several charter contracts with prominent Asian ship owners.
During a ceremony held at its headquarters in Doha, the state-owned QatarEnergy inked agreements to charter a total of 19 LNG vessels from various reputable companies. Among these contracts, QatarEnergy secured six vessels from CMES LNG Carrier Investment, six from Shandong Marine Energy, and three from MISC Berhad. Notably, all 15 vessels will be constructed by South Korea’s renowned shipbuilder, Samsung Heavy Industries, as stated in a press release by QatarEnergy.
Additionally, QatarEnergy announced the operation of four vessels under a joint venture between Kawasaki Kisen Kaisha and Hyundai Glovis. These vessels are currently under construction by Hanwha Ocean shipbuilders in South Korea.
With these latest agreements, QatarEnergy’s total contracted ships now stand at an impressive 104, with 43 of these vessels set to be chartered by its affiliate, QatarEnergy Trading.Each of the 19 newly commissioned LNG vessels is expected to boast a capacity of 174,000 cubic meters, further enhancing QatarEnergy’s logistical capabilities.
The expansion of QatarEnergy’s North Field project is poised to solidify its position as the leading LNG exporter globally. This ambitious initiative encompasses the addition of eight LNG trains, propelling Qatar’s liquefaction capacity from 77 million tons per annum (mtpa) to a staggering 142 mtpa by 2030—an 85% surge in production.
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