QatarEnergy Inks Deal With MOL For 4 LNG Newbuilds In China

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  • Top liquefied natural gas (LNG) exporter QatarEnergy has penned deals with Japan’s Mitsui OSK Lines (MOL) for the long-term charter and operation of four LNG carriers.
  • It completes its first batch of charter contracts awarded under its massive shipbuilding program.

A recent news article published in the Splash 247 states that QatarEnergy taps MOL for four LNG newbuilds in China.

LNG carrier shipbuilding contracts

As a result of the signing of the charter deals, back-to-back LNG carrier shipbuilding contracts were signed between MOL and CSSC-affiliated Hudong-Zhonghua Shipbuilding, for the construction of four new ships to serve Qatar’s state-owned LNG projects and future fleet requirements.

“These contracts mark the start of the construction phase of QatarEnergy’s historic fleet expansion program in support of our LNG expansion projects,” said Saad Sherida Al-Kaabi, Qatar’s energy minister and CEO of QatarEnergy.

QatarEnergy changed its name from Qatar Petroleum last year, signalling a new strategy focused on energy efficiency and environmentally-friendly technologies.

Booking of huge yard slots

The company booked a huge number of yard slots in South Korea and China in 2020 for its North Field expansion project, which will increase Qatar’s LNG production capacity from 77m tons per year to 126m tons per year, with the first LNG expected in 2025.

The signing of the first LNG shipowner contract marks the conclusion of the invitation to tender that was launched by QatarEnergy in March 2021 and the commencement of design and construction of the first four LNG carrier newbuilds by Hudong, announced in October 2021.

Other shipowners that have been selected by QatarEnergy as part of the process will be announced shortly.

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Source: Splash247

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