QatarEnergy to expand fleet with extra 19 LNG vessels

State-owned QatarEnergy announced the successful conclusion of several charter contracts with various Asian ship owners, on Sunday, as per a Reuters report.

According to the announcement, the agreements are set to bolster the company’s shipping fleet with the addition of 19 LNG vessels, in preparation for a substantial expansion in LNG output.

QatarEnergy, a state-owned entity, formally signed contracts to charter six vessels from CMES LNG Carrier Investment, six vessels from Shandong Marine Energy, three vessels from MISC Berhad, and four vessels from Kawasaki Kisen Kaisha and Hyundai Glovis.

Earlier, the company had already secured contracts for the construction of 77 ships at shipyards in Korea and China as part of the initial phases of its LNG ship acquisition programme.

The expansion of QatarEnergy’s North Field will solidify its position as the world’s premier LNG exporter.

This expansion initiative entails the construction of eight LNG trains, which will increase Qatar’s liquefaction capacity from 77 million tons per annum (mtpa) to 142 mtpa by 2030, representing an 85 per cent surge in production.