QatarEnergy awards long-term charter for nine LNG carriers

QatarEnergy has entered into a long-term agreement with Qatar Gas Transport Company (Nakilat) pursuant to which Nakilat will own and operate nine vessels that the company said will be among the the largest LNG carriers ever built.

The nine vessels, with a capacity of 271,000 cubic metres each, constitute half of the 18 LNG carriers in a series that will be constructed at China’s Hudong Zhonghua Shipbuilding.

To date, QatarEnergy’s fleet expansion program encompassed the execution of shipbuilding contracts and time charter agreements for 104 conventional LNG vessels and 18 larger LNG vessels, for a total of 122 ultra-modern vessels. The company expects the first new ship to be delivered by the end of the third quarter of this year.

The long-term agreement awarded earlier this week follows the selection of Nakilat in February as the owner and operator of 25 conventional-size LNG vessels.

It also follows the signing of similar agreements in Beijing with three Chinese shipowners for the operation of nine new LNG vessels as part of QatarEnergy’s LNG fleet expansion program, which will accommodate QatarEnergy’s future requirements as it moves forward with the expansion of its LNG production capacity from the North Field to 142 million tonnes per annum by 2030.