QatarEnergy signals beginning of second round of LNG orders

27092023 QatarEnergy and HHI Sign Ship Construction Agreement 01

Source: QatarEnergy

QatarEnergy has announced the beginning of a second round of LNG shipbuilding orders, confirming an order with Korean shipyard Hyundai Heavy Industries (HHI) for 17 LNG carriers.

The Qatari riyal 14.2 billion (US$3.9bn) order forms part of its historic shipbuilding programme to meet future LNG carrier requirements, and lifts its overall LNG carrier orderbook to 77. QatarEnergy’s LNG carrier fleet programme has been the largest in the history of the LNG industry, with the first round extending to 60 vessels, distributed between a number of Chinese and Korean shipyards.

In addition to helping QatarEnergy meet the additional requirements arising its North Field LNG expansion projects in Qatar as well as its share of output from the Golden Pass LNG export project in Sabine Pass, Texas, the tonnage would also help QatarEnergy to meet its long-term fleet replacement requirements.

The order is expected to represent the beginning of a second round of LNG carrier orders, although the extent of QatarEnergy’s requirements remains unclear, following the cancellation of its joint marketing agreement with ExxonMobil, Ocean LNG, in 2022. 

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