QatarEnergy Inks $6 Billion Deal for 18 LNG Vessels with China's CSSC
(P&GJ) — QatarEnergy has finalized an agreement with China State Shipbuilding Corp. (CSSC) for the construction of 18 state-of-the-art LNG vessels, each boasting a capacity of 271,000 cubic meters. This significant move underscores QatarEnergy's ambitious expansion plans for its LNG fleet.
The agreement, signed in Beijing, involves the construction of these ultra-modern vessels at China's Hudong-Zhonghua Shipyard, a wholly-owned subsidiary of CSSC. The ceremony, attended by high-level executives from both QatarEnergy and CSSC, highlighted the strategic partnership between the two entities.
H.E. Mr. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and CEO of QatarEnergy, emphasized the magnitude of the deal, stating it to be the largest single shipbuilding contract in the industry's history. He underscored QatarEnergy's commitment to environmental sustainability and providing a reliable LNG source.
Delivery of the vessels is expected in phases, with eight scheduled for completion in 2028 and 2029, followed by ten more in 2030 and 2031. Al-Kaabi also noted the ongoing construction of 12 conventional-size LNG vessels at Hudong-Zhonghua, with the first deliveries anticipated in the third quarter of this year.
This agreement marks another milestone in the flourishing collaboration between China and Qatar in the energy sector. In 2023, Qatari LNG shipments to China reached nearly 17 million tons, cementing Qatar's position as a key energy supplier to the Chinese market.
Additionally, China's involvement in Qatar's North Field Expansion projects underscores the deepening ties between the two nations. Sinopec and CNPC's acquisitions of stakes in these projects, coupled with long-term LNG sales agreements, further solidify the partnership between Qatar and China in shaping the global energy landscape.
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