QatarEnergy Finalizes Charter Contracts for 19 LNG Vessels in Massive Shipbuilding Program

Industries. Additionally, four newbuilds will be operated by the Japanese/South Korean joint venture between K Line and Hyundai Glovis, constructed at Hanwha Ocean. This program represents the largest LNG shipbuilding venture in the industry's history, supporting Qatar’s expanded LNG production from the North Field and Golden Pass in the US, while addressing long-term fleet replacement needs. The first phase involved contracting 60 ships at Korean and Chinese shipyards, while the second phase, initiated in September last year, saw deals worth nearly $4bn with South Korea’s HD Hyundai Heavy Industries for 17 LNG carriers. The recent signings mark the culmination of the conventional-sized vessel segment of the program, with plans for supersize LNG carriers, known as Q-Maxes, on the horizon. QatarEnergy's CEO, Saad Sherida Al-Kaabi, emphasized the meticulous shipowner selection process, underscoring the company's commitment to expanding its modern LNG carrier fleet collaboratively and transparently.