QatarEnergy, the state-owned petroleum company, has selected Nakilat, the Qatar Gas Transport Company Limited, to own and operate up to newbuild 25 Liquefied Natural Gas (LNG) vessels.
Nakilat, a global leader in LNG shipping and maritime transportation, will be the owner & operator of up to 25 conventional size Liquefied Natural Gas (LNG) carriers pursuant to Time Charter Parties to be entered into by affiliates of QatarEnergy and Nakilat.
The LNG carriers, each with a capacity of 174,000 cubic meters, will be owned 100 percent by Nakilat.
The LNG carriers are scheduled for construction in Korean shipyards as part of QatarEnergy’s historic LNG Fleet Expansion Project, which is intended to cater for the LNG transportation requirements of QatarEnergy’s LNG expansion projects as well as its fleet renewal requirements.
In January 2024, Nakilat placed orders with Hyundai Samho Heavy Industries (HSHI) of South Korea for the construction of six gas vessels, two cutting-edge LNG carriers with a cargo capacity of 174,000 cubic meters each and four modern Very Large LPG/ Ammonia Gas carriers, with a substantial cargo capacity of 88,000 cubic meters. These modern vessels are set to be delivered between 2026 and 2027.
As part of its ongoing LNG ship acquisition program, QatarEnergy in September 2023 marked a $4 billion deal with South Korea’s HD Hyundai Heavy Industries (HHI).
QatarEnergy’s historic LNG shipbuilding program is the largest of its kind in the history of the LNG industry and will play a pivotal role in positioning Qatar in the forefront as the leading energy company globally.