QatarEnergy pens deals for seven LNG carriers under its giant shipbuilding program

State-run QatarEnergy has signed deals for seven LNG carriers with an Asian consortium, completing the next batch of charter contracts awarded under its massive shipbuilding program.

The consortium consists of Japan’s NYK, K Line, Malaysia’s MISC, and China LNG Shipping (Holdings) Limited.

Concurrent with the signing of the long-term time charter contracts, the JV companies have also executed shipbuilding contracts for seven 174,000-cbm LNG carriers with South Korea’s Hyundai Heavy Industries, NYK said in a statement on Weddnesday.

These seven vessels would feature an X-DF 2.1 iCER and air lubrication system, both of which woould contribute to a reduction of GHG emissions and an improved environmental impact, according to NYK.

Hyundai Heavy would deliver the 299 meters long vessels during 2025 and 2026, the Japanese firm said.

South Korea’s KSOE said in a stock exchange filling on Wednesday its unit Hyundai Heavy has won a contract from an Asian firm to build seven LNG carriers.

The contract has a price tag of 1.96 trillion won ($1.5 billion) or some $214 million per vessel.

In March 2021, QatarEnergy launched a tender to a large group of owners for the chartering of more than 100 LNG carriers for its future requirements related to its giant capacity expansion in Qatar and the Golden Pass terminal in the US.

Earlier this year, QatarEnergy signed charter deals for four LNG carriers with Japan’s MOL, completing the first batch of charter contracts awarded under the shipbuilding program. China’s Hudong-Zhonghua will build these vessels.

After that, the firm signed several contracts for LNG carriers to be built by the three largest yards in South Korea, including DSME, Hyundai Heavy, and Samsung Heavy.

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