Qatar Petroleum, along with several leading international LNG players, signed a multi-party agreement with LNT Marine, the American Bureau of Shipping (ABS), and Shanghai Waigaoqiao Shipbuilding (SWS) to collaborate on the development of new medium and large liquefied natural gas (LNG) carrier designs.

The agreement paves the way for the establishment of a Joint Industry Project (JIP) that targets the development of new LNG carrier designs utilising the LNT A-BOX® LNG cargo containment system. Other signatories to the agreement include Qatargas and affiliates of ConocoPhillips, ExxonMobil, Shell and Total.

The LNT A-BOX® LNG cargo containment system is a new design that has recently been deployed on the 45,000 m3 new built ABS-classed vessel Saga Dawn, which entered commercial service in the second quarter of 2020.

Minister of State for Energy Affairs and President/CEO of Qatar Petroleum HE Saad Sherida Al Kaabi, said that with this signing, Qatar Petroleum reaffirms its commitment to the continuous improvement of the LNG industry, by supporting new concepts and encouraging innovation in areas that benefit the industry as a whole, in a safe and economic manner.

Competition is critical for technology advancement, and we are pleased to play an active role in this regard with our industry partners.

LNG Economics

LNG cargo containment systems are highly specialised and have experienced few improvements over the past decades. LNT Marine is a technology provider and innovator within the LNG sector, developing gas carriers and cryogenic insulation systems for marine applications. LNT A-BOX® introduces a step-change in LNG containment systems and demonstrates the potential to improve LNG transportation economics in the coming years.

LNT Marine Founder and Chairman David Wu said they are very pleased to cooperate with Qatar Petroleum and other market leaders in the LNG industry, to support new technology development for the next wave of LNG carriers.

He said they are confident in their ability to develop state-of-the-art LNG carrier designs with the LNT A-BOX® containment system, to accommodate the future shipping requirements of the LNG industry.

ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. It has a proud track record of supporting innovation in gas carrier development.

SWS meanwhile, is a subsidiary of China State Shipbuilding Corporation with extensive experience in vessel and offshore structure construction.

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