Qatar Energy, on Wednesday, signed an agreement worth 14.2 billion Qatari riyals (about $3.9 billion) with South Korean company Hyundai Heavy Industries to build 17 liquefied natural gas (LNG) carriers.
This deal marks the beginning of the second phase of Qatar Energy’s program to build its LNG carrier fleet, which will support increased production of liquefied natural gas from the North Field Expansion and Golden Pass projects, in addition to the long-term fleet renewal requirements, according to a company statement.
The statement noted that, in addition to the 60 carriers contracted by Qatar Energy in the first phase of the program, to be constructed in Korean and Chinese shipyards, this new agreement raises the total number of new LNG carriers to be delivered to Qatar Energy and its subsidiaries to 77, with more carriers planned for the future.
QatarEnergy LNG, previously known as Qatargas, currently operates 14 LNG production trains with a capacity of about 77 Mtpa in Ras Laffan.
However, QatarEnergy is significantly increasing its LNG production from the North Field.
This first phase of the North Field expansion project will increase Qatar’s LNG production capacity from 77 to 110 Mtpa, while the second phase will further boost capacity to total 126 Mtpa.
