QatarEnergy signed time-charter party (TCP) agreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25 conventional-size LNG vessels as part of the second ship-owner tender under QatarEnergy’s historic LNG Fleet Expansion Program.

The agreements were signed by HE Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy and Abdullah Al Sulaiti, the CEO of Nakilat, in a special ceremony held at QatarEnergy’s headquarters in Doha, and attended by senior executives from QatarEnergy, QatarEnergy LNG, and Nakilat.  

Seventeen of the 25 LNG vessels are being constructed at the Hyundai Heavy Industries (HHI) shipyards in South Korea, while the remaining eight are being constructed at Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) also in South Korea.

HE Saad Sherida Al-Kaabi emphasised the significance of the agreements, affirming Nakilat’s role as the owner and operator of up to 25 conventional-size LNG carriers. ‘This is a testament to Nakilat’s world-class capabilities as well as to the significant contributions of Qatari listed companies to our country’s national economy.

Minister Al-Kaabi further stated that these agreements are pivotal in implementing QatarEnergy’s LNG shipping programme. ‘The agreements we signed today play an important role in implementing QatarEnergy’s historic LNG shipping programme, which will cater for our future requirements, as we move forward with the expansion of our LNG production capacity to 142 million tons per annum by 2030, ensuring additional cleaner and reliable energy supplies to the world.’

Each of the 25 vessels will have a capacity of 174,000 cubic metres and will be chartered out by Nakilat to affiliates of QatarEnergy pursuant to the 15-year TCP agreements.

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