In a significant development, since 2022, QatarEnergy has signed TCPs for the long-term charter and operation of 104 conventional LNG vessels as part of its LNG fleet expansion program.
As of the latest update by the company, QatarEnergy has signed long-term time charter party (TCP) agreements with four international shipowners for the operation of 19 new LNG vessels. These agreements are part of QatarEnergy’s historic LNG fleet expansion program and cater for the operation of six vessels by CMES LNG Carrier Investment Inc., six vessels by Shandong Marine Energy (Singapore) Pte Ltd., three vessels by MISC Berhad, and four vessels by a joint venture of Kawasaki Kisen Kaisha Ltd. (K-Line) and Hyundai Glovis Co. Ltd.
All these vessels are being constructed at Samsung Heavy Industries and Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) in South Korea.
To remind, a few days ago the company signed TCPagreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of another 25 conventional-size LNG vessels
Minister Al-Kaabi highlighted that these signings mark the conclusion of the conventional size vessels portion of the program, bringing the total number of ships for which QatarEnergy has signed TCPs to 104, making it the largest shipbuilding and leasing program ever in the history of the industry.
The 19 conventional LNG vessels, part of the recent agreements, have a capacity of 174,000 cubic meters each and will be equipped with the latest LNG shipping technologies, the company informs.
The agreements were signed by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President and CEO of QatarEnergy, along with the respective executives of the shipowner companies, at a special ceremony held at QatarEnergy’s headquarters in Doha.
