QatarEnergy Secures Contracts for 19 More LNG Vessels
QatarEnergy has embarked on a major enhancement of its LNG transportation capacity, signing agreements to charter 19 new LNG carriers from various Asian shipping companies. This move is in alignment with the company's North Field expansion project, which aims to substantially increase Qatar's liquefaction capacity from the current 77 million tons per annum (mtpa) to 142 mtpa by the year 2030, marking an 85% rise in production.
The contracts involve multiple ship operators, including China's CMES Co. Ltd. and Shandong Marine Group Ltd., which will each contribute six vessels, Malaysia's MISC Bhd with three ships, and a joint venture between Japan's Kawasaki Kisen Kaisha Ltd and South Korea's Hyundai Glovis Co., which will provide four vessels. Each of these LNG carriers has a capacity of 174,000 cubic meters.
These charters are part of QatarEnergy's ongoing LNG Fleet Enlargement Program, which had previously seen the ordering of 77 ships to be constructed at Korean and Chinese shipyards. This expansion is expected to not only strengthen Qatar's position as a leading LNG exporter but also contribute to the country's economic growth and diversification strategy. Eight of the newly chartered vessels will be owned by Qatari LNG shipping company Nakilat.
