Qatar Petroleum, along with several international LNG players, signed a multi-party agreement with LNT Marine, ABS, and Shanghai Waigaoqiao Shipbuilding to work on new medium and large LNG carrier designs.
The agreement paves the way for the establishment of a Joint Industry Project (JIP) that targets the development of new LNG carrier designs utilizing the LNT A-BOX cargo containment system, QP said on Wednesday.
Moreover, other players that signed the deal include QP’s unit Qatargas and affiliates of ConocoPhillips, ExxonMobil, Shell and Total, QP said.
The LNT A-BOX cargo containment system is a new design. The 45,000-cbm ABS-classed vessel Saga Dawn, which entered commercial service in the second quarter last year, is the first vessel featuring the system.
“With this signing, Qatar Petroleum reaffirms its commitment to the continuous improvement of the LNG industry by supporting new concepts and encouraging innovation in areas that benefit the industry as a whole, in a safe and economic manner,” Qatar’s energy minister and chief executive of QP, Saad Sherida Al-Kaabi, said.
In addition, QP said LNT A-BOX introduces a “step change in LNG containment systems and demonstrates the potential to improve LNG transportation economics in the coming years.”
LNT Marine’s and Saga LNG’s chief, and a partner in parent company Landmark Capital, David Wu said the firm looks forward to cooperating with Qatar Petroleum and other market leaders in the LNG industry, to “support new technology development for the next wave of carriers.”