QatarEnergy Expands Fleet with 19 New LNG Vessels Amid Global Production Boost
QatarEnergy Expands Fleet with 19 New LNG Vessels Amid Global Production Boost
BollywoodFever, March 31: Saad Al Kaabi, CEO of QatarEnergy, announced on Sunday the completion of charter agreements with multiple Asian shipping companies, adding 19 LNG carriers to its fleet in anticipation of a significant increase in LNG production.
The agreements, signed at QatarEnergy’s Doha headquarters, involve chartering six vessels each from CMES LNG Carrier Investment and Shandong Marine Energy, three from MISC Berhad, and four from a collaboration between Kawasaki Kisen Kaisha and Hyundai Glovis.
These new charters are part of QatarEnergy’s ongoing effort to expand its shipping capabilities, building on a prior arrangement to construct 77 vessels at shipyards in Korea and China.
This expansion is crucial for the state-owned entity’s North Field project, which is set to solidify Qatar’s status as the leading LNG exporter globally.
By 2030, the project will introduce eight new LNG processing trains, increasing Qatar’s liquefaction capacity from 77 million tons per annum (mtpa) to 142 mtpa—an 85% surge in production.
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