State-owned QatarEnergy will build six new state-of-the-art QC-Max liquified natural gas (LNG) vessels, reportedly the largest ever built, with a capacity of 271,000 cubic meters each.
The agreement for the new vessels, signed with China State Shipbuilding Corporation (CSSC), is in addition to 18 QC-Max vessels recently ordered.
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This brings the total number of QC-Max vessels ordered by QatarEnergy to 24, with a total order value of approximately $8bn. The six new vessels are scheduled to be delivered between 2028 and 2031, QatarEnergy said in a statement.
The overall number of LNG vessels on order under QatarEnergy’s fleet expansion program is now 128, as it looks to increase its gas exports.
The vessels will be constructed at Hudong-Zhonghua Shipyard in Shanghai, operated by Hudong-Zhonghua Shipbuilding Group, which is a wholly owned subsidiary of CSSC.
QatarEnergy said in the statement that it expects that its capacity to meet global LNG demand will be enhanced through fuel efficiency and reduced emissions.
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By GlobalDataAttendees at the signing ceremony included Qatari minister of state for energy affairs and QatarEnergy CEO and president Saad Sherida Al-Kaabi, as well as CSSC chief financial officer Jia Haiying.
In comments made at the ceremony, Sherida Al-Kaabi highlighted QatarEnergy’s “commitment to maintaining a leadership position in the global LNG market.”
LNG production is expanding in the North Field in the Persian Gulf, which Qatar jointly owns with Iran. This is the world’s largest natural gas field, and QatarEnergy expects production to increase from 77 million tonnes per annum (mtpa) to 142mtpa by the close of 2030.
On 26 August, QatarEnergy signed an agreement to provide the State of Kuwait with up to 3mtpa of LNG for a duration of 15 years.
This followed a deal struck in June with Taiwan’s CPC Corporation which included a 27-year LNG sales and purchase agreement for the delivery of 4mtpa of LNG.
