The 174,000 cubic meter LNG carrier designed for Qatar Petroleum by CSSC.
Qatar Petroleum signed an agreement with Hudong-Zhonghua Shipbuilding, a subsidiary of China State Shipbuilding Corporation (CSSC) for the construction of LNG carriers on Wednesday, 22 April. The 20 billion yuan (US$2.86 billion) agreement reserves newbuilding capacity at the shipyard until 2027.
The agreement between QP and CSSC was signed in a remote ceremony by CSSC chairman Lei Fanpei and QP’s ceo and president, Qatar’s Minister of State for Energy Affairs Saad Sherida Al-Kaabi.
Qatar Petroleum’s LNG carrier fleet program is the largest in the history of the LNG industry. The Motorship notes that the program was expected to eventually extend to 60 vessels, with a value of US$10 billion.
“By entering into this agreement to reserve a major portion of Hudong’s LNG ship construction capacity through the year 2027, we are confident that we are on the right track to ensuring that our future LNG fleet requirements will be met in due time to support our increasing LNG production capacity,” Mr. Saad Sherida Al-Kaabi noted.
CSSC chairman Lei Fanpei added: “The 174,000m³ LNG carrier for Qatar Petroleum is the latest generation of LNG carrier design customised by CSSC for Qatar. The carrier has the world’s leading performance for efficiency, reliability and environmental conservation, demonstrating CSSC Group’s great efforts and commitment to the success of Qatar Petroleum’s projects.”
The agreement will also cover the North Field expansion projects, which are expected to boost the country’s LNG production capacity to 126 million tonnes each year from 77 million tonnes. Development of the first phase of the North Field expansion projects began at the end of March, Qatar Petroleum announced on 15 April.