QatarEnergy has selected the joint venture of Japan’s Mitsui O.S.K Lines Ltd. (MOL) and China’s COSCO Shipping LNG Investment (Shanghai) Co. Ltd. (CSLNG) to own and operate six QC-Max size LNG vessels, marking the conclusion of its historic 128-vessel LNG fleet expansion program.
Key Highlights
- Vessel Construction and Specifications:
- The six ultra-modern QC-Max vessels, the largest LNG carriers in the world, will be constructed by Hudong-Zhonghua Shipbuilding Group, a subsidiary of China State Shipbuilding Corporation (CSSC).
- Historic Shipbuilding Program:
- QatarEnergy’s LNG fleet expansion program includes 104 conventional LNG vessels and 24 QC-Max vessels, positioning it as one of the most ambitious shipbuilding initiatives globally.
- Partnership Milestones:
- This batch represents the culmination of long-term Time Charter Party (TCP) agreements under QatarEnergy’s program, furthering its LNG export capabilities for expansion and fleet replacement needs.
- Ceremony Details:
- The agreements were formalized at a ceremony in Doha, attended by His Excellency Mr Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and CEO of QatarEnergy, alongside senior executives including Takeshi Hashimoto, CEO of MOL, and Zhang Feng, Vice President of China COSCO Shipping Corporation.
- Previous Collaboration:
- The MOL-CSLNG joint venture previously secured TCP agreements for 7 conventional LNG vessels in 2022, bringing their total long-term partnerships with QatarEnergy to 13 vessels.
Statements from Leaders
- H.E. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs:
“This is the last batch of long-term shipowner contracts in our 128-vessel-strong historic shipbuilding program. We are proud to have built strategic partnerships, including today’s with MOL and COSCO Shipping, to support our LNG expansion projects and fleet replacement requirements.” - Takeshi Hashimoto, CEO of MOL:
“We are honoured to deepen our relationship with QatarEnergy and contribute to their industry-leading LNG initiatives through this collaborative venture.” - Zhang Feng, Vice President of COSCO Shipping:
“Our partnership reflects a shared commitment to advancing LNG shipping capabilities and supporting the global energy transition.”
Strategic Importance
This fleet expansion supports QatarEnergy’s LNG growth ambitions, ensuring sufficient capacity to handle increasing export volumes and cater to replacement needs. It also reinforces Qatar’s role as a global leader in LNG production and shipping.
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Source: Qatar Energy
