QatarEnergy’s fleet expansion program hits 104 conventional LNG vessels
QatarEnergy signed long-term time charter party (TCP) agreements with four international shipowners for the operation of 19 new, ultra-modern conventional size LNG vessels as part of the second ship-owner tender under QatarEnergy’s historic LNG fleet expansion program, according to the company's release.
The agreements cater for the operation of six vessels by CMES LNG Carrier Investment Inc., six vessels by Shandong Marine Energy (Singapore) Pte Ltd., and three vessels by MISC Berhad; all of which are being constructed at Samsung Heavy Industries in South Korea. The remaining four vessels will be operated by a joint venture of Kawasaki Kisen Kaisha Ltd. (K-Line) and Hyundai Glovis Co. Ltd. and are being constructed at Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) also in South Korea.
Since 2022, QatarEnergy has signed a series of TCPs for the long-term charter and operation of 104 conventional LNG vessels, as part of its historic LNG fleet expansion program. This initiative will support QatarEnergy’s expanding LNG production capacity from the North Field LNG expansion and Golden Pass LNG export projects, as well as meeting its long-term fleet replacement requirements.
43 ships out of the 104 will be chartered by QatarEnergy’s affiliate “QatarEnergy Trading”, marking it the single largest one-step ship acquisition program of any single entity in the history of the LNG industry, and placing QatarEnergy and consequently QatarEnergy Trading firmly on the road to becoming a leading global LNG trader.
The 19 conventional LNG vessels, part of today’s agreements, have a capacity of 174,000 cubic meters each and will be equipped with the latest LNG shipping technologies.
