QatarEnergy Adds Six More World’s Largest LNG Vessels to Shipbuilding Order
QatarEnergy expanding its shipbuilding order with China State Shipbuilding Corporation (CSSC) for the construction of six additional QC-Max vessels, the world’s largest LNG carrier. According to the company, the latest order brings the total value of its QC-MAX orders to about $8 billion with a total of 24 of the massive vessels to be built in addition to its unprecedented orders placed with the shipping industry for conventional-sized LNG carriers.
The six new orders were placed with China’s Hudong-Zhonghua Shipyard, a wholly-owned CSSC subsidiary, and are in addition to 18 QC-Max vessels already ordered from Hudong-Zhonghua Shipyard. These additional orders are for delivery between 2028 and 2031 following the prior orders which will also be delivered by 2028.
The new QC-Max vessels will be the largest LNG vessels ever built with a capacity of 271,000 cubic meters each. By comparison, the current Q-Max vessels operating for Qatar have a capacity between 263,000 and 266,000 cubic meters of LNG. They previously reported that the vessel vessels will measure 1,128 feet (344 meters) with a design draft of just over 39 feet (12 meters). CSSC has said that these dimensions mean the vessels will still be able to dock at 70 percent of the world’s LNG terminals.
“The signing of today’s agreement is underscored by the strategic importance of QatarEnergy’s historic LNG fleet expansion program and its commitment to maintaining a leadership position in the global LNG market,” said His Excellency Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President and CEO of QatarEnergy.
Qatar first announced its intentions in June 2020 with what it called the “world’s largest shipbuilding contract.” They signed an agreement with South Korea which reserved 60 percent of the global LNG shipbuilding capacity for seven years as well as shipbuilding agreements in China.
The latest order brings the total number of LNG vessels on order under its fleet expansion program to 128, including 24 QC-Max mega vessels. QatarEnergy has contracted with major shipowners and operators including NYK, Kawasaki Kisen Kaisha (K-Line), MISC Berhad, and Hyundai Glovis, as well as CMES LNG Carrier Investment for the fleet development.
The ships will support QatarEnergy’s expanded LNG production capacity from the North Field in Qatar and Golden Pass in the U.S. Qatar’s plans to expand LNG capacity from 77 million to 142 million tons per annum by 2027.