- Qatar Petroleum (QP) enters into an agreement to reserve LNG ship construction capacity in China.
- It will be utilized for Qatar Petroleum’s future LNG carrier fleet requirements.
- It also includes those of its ongoing North Field expansion projects.
- Qatar Petroleum (QP) is a state-owned corporation.
- It is responsible for all phases of the oil and gas industry in the State of Qatar.
- Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. is one of the major shipbuilding enterprises under the flag of China State Shipbuilding Corporation (CSSC).
One of the articles published in Euro Petrole, talks about the agreement between Qatar Petroleum and CSSC group. It highlights the importance of the deal from both the sides.
Signing of the agreement
The agreement was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, and Mr. Lei Fanpei, the Chairman of CSSC, in a virtual ceremony held today in the presence of Sheikh Khalid Bin Khalifa Al Thani, CEO of Qatargas, and Mr. Chen Jianliang, Chairman of Hudong, as well as senior executives from Qatar Petroleum, Qatargas, CSSC and Hudong.
Qatar’s LNG production to increase
- The North Field expansion projects will increase Qatar’s LNG production capacity from 77 million tons per annum to 126 million tons per annum.
- Qatar Petroleum’s LNG carrier fleet program is the largest of its kind in the history of the LNG industry.
- It will play a pivotal role in meeting the shipping requirements of Qatar Petroleum’s local and international LNG projects.
- It is to replace some of Qatar’s existing LNG fleet.
Speaking at the signing ceremony, His Excellency Mr. Saad Sherida Al-Kaabi said, “Today, we have taken yet another concrete step to reinforce Qatar’s commitment to its global reputation as a safe and reliable LNG producer at all times and under all circumstances.”
His Excellency Minister Al-Kaabi added, “The value of this landmark agreement has the potential to be well in excess of 11 billion Qatari Riyals, depending on our requirements and the extent of China’s LNG shipbuilding capacity expansion. To this end, Qatar Petroleum is pleased and proud to support the expansion of the LNG ship construction capacity in China and looks forward to further growth in the near future.”
Also speaking at the virtual signing ceremony, Mr. Lei Fanpei, the Chairman of CSSC said, “The 174,000 cubic meter LNG carrier for Qatar Petroleum is the latest generation of LNG carrier design customized by CSSC for Qatar. The carrier has the world’s leading performance for efficiency, reliability and environmental conservation, demonstrating CSSC Group’s great efforts and commitment to the success of Qatar Petroleum’s projects. The agreement signed today will be an important milestone for the cooperation of CSSC Group and Qatar Petroleum, and will make new contributions to consolidating the economic cooperation and traditional friendship between Qatar and China.”
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Source: Euro Petrole
