Qatar orders $6 billion LNG carriers from China in mega deal

QatarEnergy has sealed a monumental $6 billion deal with China State Shipbuilding Corp. to construct 18 liquefied natural gas (LNG) carriers, marking a significant stride in its endeavor to ramp up production of the super-chilled fuel.

Under the agreement, the shipbuilder will craft cutting-edge QC-Max size LNG vessels, boasting a capacious 271,000 cubic meters each, at its Hudong-Zhonghua shipyard, as announced by QatarEnergy in a statement released on Monday.

Delivery of the vessels is staggered, with eight ships set for completion in 2028 and 2029, followed by the remaining ten slated for delivery in 2030 and 2031, as outlined in the statement.

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This strategic move aligns with Qatar's ambition to meet the escalating demand for LNG, spurred by its ambitious expansion plans. With plans to increase annual production capacity from the North Field to 142 million tons by 2030, up from the current 77 million tons, QatarEnergy is proactively fortifying its logistical infrastructure.

Last month, the company bolstered its fleet further by inking agreements to charter 19 additional vessels, underscoring its unwavering commitment to fulfilling global energy needs and solidifying its position as a premier LNG supplier on the global stage.