QatarEnergy has signed an settlement with China State Shipbuilding Corporation (CSSC) for the development of 18 ultra-modern QC-Max measurement LNG vessels, marking a big addition to its LNG fleet growth program.
The new vessels, with a capability of 271,000 cubic meters every, might be constructed at China’s Hudong-Zhonghua Shipyard, a CSSC wholly-owned subsidiary, and can characteristic state-of-the-art technological innovation and environmental efficiency.
Eight of the 18 QC-Max measurement LNG vessels might be delivered in 2028 and 2029, whereas the opposite 10 might be delivered in 2030 and 2031, in accordance with QatarEnergy.
Earlier in 2024, QatarEnergy introduced the signing of time constitution occasion agreements for a complete of 104 conventional-size vessels – 174,000 cubic meters – constituting the biggest shipbuilding and leasing program ever within the historical past of the trade.
“With a total value of almost 6 billion dollars for these ultra-modern, largest ever LNG vessels by size, the agreement we signed today is the industry’s largest single shipbuilding contract ever,” mentioned Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy.
Al-Kaabi added that 12 conventional-size LNG vessels are presently underneath building at Hudong-Zhonghua, and that supply of the primary such vessels is anticipated by the third quarter of 2024.
This settlement spotlights the rising cooperation between China and Qatar, particularly within the power sector.
In 2023, Qatari LNG provides to its principal clients in China reached nearly 17 million tons. Also in 2023, Qatar was additionally one of many main suppliers of crude oil (equal of 8.6 million tons), naphtha (2.3 million tons), LPG (2.2 million tons), helium (650 million cubic toes), and fertilizers, polymers and chemical substances (1.6 million tons) to the Chinese market.
The 12 months 2023 additionally witnessed the participation of two of China’s nationwide power corporations as companions in Qatar’s prized North Field Expansion initiatives with Sinopec buying a 1.25% curiosity within the North Field East challenge and a 1.875% curiosity within the North Field South challenge, whereas on the similar time signing 27-year LNG gross sales and buy agreements for a complete of seven million tons each year.
CNPC in flip, has acquired a 1.25% curiosity within the North Field East challenge and signed a 27-year LNG gross sales and buy settlement for 4 million tons each year.
