GTT will supply tank designs for 17 new LNG carriers, which will each offer a capacity of 174,000 m3
Shipbuilder Hyundai Heavy Industries (HHI) has placed an order for LNG tank designs for over a dozen LNG carriers it has under construction. Hyundai placed the order on behalf of an unnamed company described only as a “leading LNG player.”
In September, Qatar Energy awarded HHI a deal to build 17 modern LNG carriers as part of Qatar’s high-profile newbuilding programme.The deal, valued at QR14.2Bn (US$3.9Bn), marks the start of the second phase of QatarEnergy’s LNG ship acquisition programme, which will support its expanding LNG production capacity from the North Field LNG expansion and Golden Pass LNG export projects as well as its long-term fleet replacement requirements.
HHI bagged a number of slots in the first phase of Qatar’s vessel newbuilding programme. In general, South Korean and Chinese yards have dominated the orders for LNG carriers linked to Qatar’s expansion programme. Slots for the enormous shipbuilding programme were secured in 2020 by QatarEnergy (formerly QatarPetroleum, the parent company of QatarGas) with South Korea’s Daewoo Shipbuilding & Marine Engineering (now Hanwha Ocean), HHI and Samsung Heavy Industries, along with China’s Hudong-Zhonghua Shipbuilding emerging as winners.
Together with the 60 ships contracted in phase one, the new agreement between QatarEnergy and HHI brings the total number of confirmed LNG vessels to be delivered to QatarEnergy and its affiliates to 77, with more to expected to follow.
The Gulf nation’s LNG production is fed by the giant North Field, which has recoverable reserves of more than 900Tn standard cubic feet - nearly 10% of the world’s known gas reserves. Now, with LNG demand set to grow, the North Field East expansion project will raise the Middle East Gulf country’s LNG production capacity from 77M tonnes per annum (mta) to 110 mta.
Vessel delivery is scheduled between Q1 2027 and Q3 2029.
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