Qatar Petroleum this week signed “the largest LNG shipbuilding agreements in history” with three Korean firms. Following on from a prior deal with China’s Hudong-Zhonghua Shipbuilding Group in April (MEES, 24 April), Qatar Minister of State for Energy Affairs and QP CEO Saad Sherida al-Kaabi now says “we have secured approximately 60% of the global LNG shipbuilding capacity through 2027.”

Mr Kaabi says QP could ultimately order more than 100 new LNG tankers, at a cost of over QR70bn ($19bn). Some of the new vessels will replace existing, older tankers. “These agreements will ensure our ability to meet our future LNG fleet requirements to support our expanding LNG production capacity and long-term fleet replacement requirements.” (CONTINUED - 715 WORDS)