QatarEnergy expands LNG fleet with addition of 19 new LNG vessels

QatarEnergy signed long-term time charter party (TCP) agreements with four international shipowners to operate 19 new, ultra-modern conventional-sized LNG vessels as part of the second ship-owner tender under QatarEnergy’s historic LNG fleet expansion program, the company announced on Sunday.

QatarEnergy said the agreements cater for the operation of six vessels by CMES LNG Carrier Investment Inc., six vessels by Shandong Marine Energy (Singapore), 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.

Commenting on the new agreement, Qatar’s Energy Minister, Saad Sherida Al-Kaabi, said it will bring the total number of ships to 104.

‘These ships will support our expanded LNG production capacity from the North Field in Qatar and Golden Pass in the US, while also meeting our long-term fleet replacement requirements,’ he said.

‘We have full confidence that the 19 vessels will be operated with the latest and most advanced safety, technical and environmental standards. This is an important undertaking that will enable QatarEnergy to continue delivering cleaner energy to the world safely and reliably,’ he added.

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.

QatarEnergy’s affiliate “QatarEnergy Trading” will charter 43 out of the 104 ships, making 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, as part of the latest agreements, have a capacity of 174,000 cubic meters each and will be equipped with the latest LNG shipping technologies, embodying QatarEnergy’s ongoing endeavors to achieve optimal fuel efficiency and reduce carbon emissions.

• LNG
• QatarEnergy
• term time charter party