QatarEnergy pens charter deals for nine LNG vessels
QatarEnergy, the state-owned energy company, has signed long-term time charter party (TCP) agreements with three ship owners for the operation of nine new LNG vessels as part of its LNG fleet expansion programme, it said on April 29.
Under these agreements, QatarEnergy will collaborate with affiliates of China Merchants Group, Shandong Marine Group, and China LNG Shipping for the operation of the LNG vessels. Each vessel will boast a capacity of 271,000 m3. China Merchants Group will operate four vessels, Shandong Marine Energy three, and CLNG two, the company said.
“These nine vessels are part of QatarEnergy’s historic program to support our expanded LNG production capacity from the North Field, which will reach 142 million tons per annum by 2030, and which will also help meet our long-term fleet replacement requirements,” Saad Sherida Al-Kaabi, CEO, QatarEnergy, said.
The nine vessels are part of 18 QC-Max LNG carriers that will be built in Hudong-Zhonghua shipyards in China.
QatarEnergy's ambitious expansion plans include the North Field West LNG Expansion project, aimed at increasing Qatar's LNG production capacity to 142mn tonnes/year by the end of the decade, representing an 85% increase from current levels.
Additionally, ongoing projects such as the North Field Expansion, including North Field South and North Field East expansion projects, are slated to commence production in 2026, further solidifying Qatar's role as a key player in the global LNG market.