QatarEnergy signed an agreement with China State Shipbuilding Corp. (CSSC) for the construction of 18 ultra-modern QC-Max size LNG vessels to support expanded LNG production capacity and help meet long-term fleet replacement requirements.
“With a total value of almost 6 billion dollars for these ultra-modern, largest ever LNG vessels by size, the agreement we signed today is the industry’s largest single shipbuilding contract ever,” said Saad Sherida Al-Kaabi, minister of state for energy affairs and QatarEnergy president and chief executive officer.
The new vessels, with a capacity of 271,000 cu m each, will be constructed at China’s Hudong-Zhonghua Shipyard, a CSSC wholly owned subsidiary.
Eight of the 18 LNG vessels will be delivered in 2028 and 2029, while the other 10 will be delivered in 2030 and 2031.
QatarEnergy signed long-term time charter party (TCP) agreements with three ship owners—affiliates of China Merchants Group (four vessels), Shandong Marine Group (three vessels), and China LNG Shipping (Holdings) Ltd. (two vessels)—for the operation of nine of the vessels.
Expanded LNG production capacity from the company’s North Field project is expected to reach 142 million tonnes/year by 2030.