QatarEnergy signs agreement with Korea’s HD Hyundai Heavy Industries for the construction of 17 ultra-modern LNG carriers

A contract for the building of 17 cutting-edge LNG carriers was inked between QatarEnergy and Korea's HD Hyundai Heavy Industries (HHI). The transaction, valued at 14.2 billion Qatari Riyals, ushers in the second stage of QatarEnergy's LNG ship acquisition programme. This phase will support the company's growing LNG production capacity from the North Field LNG expansion and Golden Pass LNG export projects as well as its long-term fleet replacement requirements. With the agreement, a total of 77 new LNG vessels are confirmed to be delivered to QatarEnergy and its affiliates, with more to come. These 77 ships join the 60 ships that QatarEnergy had contracted for in the program's initial phase and that will be constructed at shipyards in China and Korea.

HE Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President & CEO of QatarEnergy, and top executives from QatarEnergy, QatarEnergy LNG, and HD Hyundai all attended a special event in Seoul to mark the milestone. HE Minister Al-Kaabi and Ka Sam-hyun, vice chairman and chief executive officer of HD Korea Shipbuilding & Offshore Engineering (KSOE), signed the contract.

With the expansion of Qatar's LNG production capacity, QatarEnergy's historic LNG ship-building program, the largest of its kind in the LNG industry's history, will be essential in addressing the country's future shipping needs.