QatarEnergy Awards First Batch of LNG Ship Owner Contracts to Mitsui OSK Lines Subsidiary
QatarEnergy signed a series of time-charter parties (TCP) with a subsidiary of Mitsui OSK Lines (MOL) for the long-term charter and operation of four LNG ships, constituting the first batch of TCP awarded under QatarEnergy’s massive LNG shipping programme.
Concurrent with the signing of the TCP, back-to-back LNG carrier shipbuilding contracts were signed between MOL and Hudong-Zhonghua Shipbuilding Group (Hudong), a subsidiary of China State Shipbuilding Corporation (CSSC), for the construction of four new LNG carriers to serve QatarEnergy’s LNG growth projects and future fleet requirements.
Minister of State for Energy Affairs and QatarEnergy President/CEO HE Saad Sherida Al-Kaabi said the contracts mark the start of the construction phase of QatarEnergy’s historic fleet expansion programme in support of their LNG expansion projects.
We are pleased to be working with our reliable business partners from China and Japan, namely: MOL, Hudong and CSSC to take this important step together.
Minister Al-Kaabi said they look forward to announcing many more such contracts in the near future following their relentless pursuit to ensure a reliable supply of additional clean energy to the world.
Chartering LNG carriers for future requirements
The signing of the first LNG ship-owner contract marks the successful conclusion of the ship-owner invitation to tender that was launched by QatarEnergy in March 2021 to a large group of LNG ship owners for the chartering of LNG carriers for its future requirements. Other ship owners that have been selected by QatarEnergy as part of such process will be announced in due course.
QatarEnergy had earlier entered into an agreement, in April 2020, with Hudong to reserve LNG ship construction capacity in China for QatarEnergy’s future LNG carrier fleet requirements, including for the North Field Expansion Projects. The contracts signed today mark the commencement of design and construction of the first four new LNG carriers from Hudong, announced in October 2021.
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