QatarEnergy adds 19 newbuilds to LNG mega-fleet

DOHA, April 1, 2024 – QatarEnergy has signed long-term charterparty agreements with four international shipowners for the operation of 19 new LNG vessels, the state-owned company announced on Sunday.

Under the agreement, six vessels will be operated by CMES LNG Carrier Investment, six by Shandong Marine Energy and three by MISC Berhad. All 15 are under construction at the Samsung Heavy Industries shipyard in South Korea. The remaining four vessels will be operated by a joint venture between Kawasaki Kisen Kaisha and Hyundai Glovis and are being constructed at Hanwha Ocean, also in South Korea.

The vessels will each have a capacity of 174,000 cubic metres and will support LNG production capacity at the export projects of North Field in Qatar and Golden Pass in the US.

These charters mark the conclusion of QatarEnergy’s programme to grow its fleet of conventional-sized vessels. In what has been the largest shipbuilding and leasing effort ever for LNG, the company has secured a total of 104 tankers which will be added to its fleet over the next few years.

The ships will offer vital support as Qatar moves forward with a massive expansion of its LNG production capacity from current levels of around 77 million tpy to a planned 142 million tpy by 2030.

The most recent addition to QatarEnergy’s fleet was on March 24, 2024, when the company signed a long-term agreement for 25 LNG vessels under construction at Hyundai Heavy Industries and Hanwha Ocean shipyards.

Image of Mozah LNG tanker courtesy of QatarEnergy.

Read our latest insights on: