QatarEnergy has signed an agreement with Korea’s HD Hyundai Heavy Industries (HHI) for the construction of 17 ultra-modern LNG carriers.
The deal, valued at QR14.2 billion, marks the start of the second phase of QatarEnergy’s LNG ship acquisition programme, which will support its expanding LNG production capacity from the North Field LNG expansion and Golden Pass LNG export projects, as well as its long-term fleet replacement requirements.
LNG ship-building agreement
Together with the 60 ships that were contracted for by QatarEnergy in the first phase of the programme, which will be built at Korean and Chinese shipyards, the agreement brings the total number of confirmed new LNG vessels to be delivered to QatarEnergy and its affiliates to 77, with more to follow.
To commemorate this occasion, a special ceremony was held in Seoul and was attended by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, senior executives from QatarEnergy, QatarEnergy LNG, and HD Hyundai. The agreement was signed by Minister Al-Kaabi and Ka Sam-hyun , the Vice Chairman and CEO of HD Korea Shipbuilding & Offshore Engineering (KSOE).
Al-Kaabi said: “This is another milestone in our long-term relationship with HHI and the Korean shipbuilding industry in general, which is built on the strong and strategic partnership between the State of Qatar and the Republic of Korea.”
“These 17 LNG carriers will be built by HHI to the highest technical and environmental standards and specifications. Further, the vessels are designed to achieve optimal fuel efficiency and significant reduction in carbon emissions. This emphasises our continued commitment as a leader in sustainability, innovation, and growth within the LNG industry.”
Sam-hyun added: “We value our partnership with Qatar, and we are very proud of taking part in the world’s largest LNG new build project. We firmly believe that this opportunity will further consolidate the long-standing cooperative relationship between our two countries and companies. We are fully committed to contributing to this project with the most advanced technology and expertise to ensure safer, more efficient, and reliable transportation of LNG from Qatar to all over the world.”
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Source: Qatar Energy