QatarEnergy in talks with Korean yards for LNG carrier orders

South Korean news outlets have reported that QatarEnergy is in discussions with shipbuilders Samsung Heavy Industries, Hanwha Ocean, and HD Korea Shipbuilding and Offshore Engineering regarding the construction and delivery of 20 new LNG carriers under contracts totalling approximately US$5 billion.

The ships will consist of two different series. The vessels in one series will each have a total cargo capacity of 174,000 cubic metres while those in the other series will each be capable of transporting up to 271,000 cubic metres.

The 271,000-cubic-metre ships will be near-identical sisters of six other vessels that China's Hudong-Zhonghua Shipbuilding will deliver to QatarEnergy under a contract awarded earlier this month.

The acquisition of the new ships is in line with QatarEnergy's fleet expansion plan, which was first announced in 2020. The company, then known as Qatar Petroleum, said that the expansion will ensure that more than 100 newbuild LNG carriers will enter its fleet by the end of 2028.