Qatar Petroleum poised to confirm part of giant LNG carrier orders

State-run Qatar Petroleum could later this year confirm a part of LNG carrier contracts it has signed with Chinese and South Korean yards, following a decision on its expansion project.

The LNG colossus revealed in April last year a deal worth about $3 billion to reserve slots for up to sixteen 174,000 cubic meter carriers at Hudong-Zhonghua Shipbuilding to cater for its giant LNG expansion projects in Qatar.

Following this contract, QP said it had signed deals with South Korea’s biggest three shipbuilders to secure up to 100 vessels worth about $19.2 billion in what could be the largest LNG shipbuilding project the world has ever seen.

Shipbuilding sources told LNG Prime that QP is expected to confirm “three or four slots” at Hudong this year with more to follow at DSME, SHI, and KSOE in Korea.

The Korean confirmations would naturally be much higher than in China, but the sources expect the numbers to be “way below” the original announcement.

Unprecedented LNG expansion

QP’s last year shipbuilding reservations relate to the North Field East project which includes building four “mega trains” with a capacity of 8 million tonnes per year in the Ras Laffan complex.

The Qatari giant took the FID earlier this month, awarding the main contract to a joint venture consisting of Chiyoda and Technip, but also several other deals such as this week’s Saipem offshore contract.

This development could well be the largest-ever single LNG project in the history of the industry.

As for this phase of the expansion project, it will increase Qatar’s LNG production capacity from 77 to 110 mtpa.

In addition, Qatar Petroleum also aims to develop the second phase which would add 16 mtpa by 2027 while the firm has plans to boost Qatari capacity even further.

Qatar Petroleum’s unit Qatargas currently operates six mega LNG trains at Ras Laffan.

Most of these volumes go to worldwide destinations via Nakilat’s vessels. The world’s largest LNG shipper has a fleet consisting of up to 74 vessels, including the biggest carriers in the industry, Q-Max.

Most Popular

Woodside terminates Commonwealth LNG SPA

Australian LNG player Woodside has terminated its two LNG sale and purchase agreements with US LNG terminal developer Commonwealth LNG.

Energy Transfer seals Lake Charles LNG supply deals

Texas-based Energy Transfer has signed new supply deals for its planned Lake Charles LNG export facility in Louisiana as it works to take a final investment decision by the end of this year, according to its management.

Samsung Heavy develops new FLNG concept

South Korean shipbuilding giant Samsung Heavy Industries has received approvals from three classification societies for its new multi-purpose FLNG concept.

More News Like This

EPS LNG-powered tankers to feature HD KSOE’s pumps

Singapore-based Eastern Pacific Shipping (EPS) has joined forces with South Korea’s HD Korea Shipbuilding & Offshore Engineering (HD KSOE) to install the latter’s pumps and vaporizer skids on LNG-powered Aframax tankers.

Nakilat’s Q1 profit up 3.2 percent

Qatari LNG shipping giant Nakilat said its net profit increased 3.2 percent in the first quarter compared to last year.

Hanwha Ocean expects LNG newbuild market to recover in second half

South Korean shipbuilder Hanwha Ocean expects the LNG newbuilding market to recover in the second half of this year due to new US LNG export projects.

Golden Pass LNG moving forward with commissioning activities

Golden Pass LNG, a joint venture of QatarEnergy and ExxonMobil, is moving forward with the commissioning work at its giant LNG export facility in Texas with new approval from the US FERC.