QatarEnergy has signed an settlement with Korea’s HD Hyundai Heavy Industries (HHI) for the development of 17 ultra-modern LNG carriers.
The deal, valued at QR14.2 billion, marks the beginning of the second part of QatarEnergy’s LNG ship acquisition programme, which is able to help its increasing LNG manufacturing capability from the North Subject LNG growth and Golden Cross LNG export initiatives, in addition to its long-term fleet substitute necessities.
Along with the 60 ships that have been contracted for by QatarEnergy within the first part of the programme, which will probably be constructed at Korean and Chinese language shipyards, the settlement brings the entire variety of confirmed new LNG vessels to be delivered to QatarEnergy and its associates to 77, with extra to observe.
To commemorate this event, a particular ceremony was held in Seoul and was attended by Saad Sherida Al-Kaabi, the Minister of State for Vitality Affairs, the President and CEO of QatarEnergy, senior executives from QatarEnergy, QatarEnergy LNG, and HD Hyundai. The settlement was signed by Minister Al-Kaabi and Ka Sam-hyun , the Vice Chairman and CEO of HD Korea Shipbuilding & Offshore Engineering (KSOE).
Al-Kaabi stated: “That is one other milestone in our long-term relationship with HHI and the Korean shipbuilding business basically, which is constructed on the sturdy and strategic partnership between the State of Qatar and the Republic of Korea.”
“These 17 LNG carriers will probably be constructed by HHI to the best technical and environmental requirements and specs. Additional, the vessels are designed to realize optimum gas effectivity and vital discount in carbon emissions. This emphasises our continued dedication as a frontrunner in sustainability, innovation, and progress throughout the LNG business.”
Sam-hyun added: “We worth our partnership with Qatar, and we’re very happy with participating on this planet’s largest LNG new construct mission. We firmly consider that this chance will additional consolidate the long-standing cooperative relationship between our two international locations and firms. We’re totally dedicated to contributing to this mission with probably the most superior expertise and experience to make sure safer, extra environment friendly, and dependable transportation of LNG from Qatar to all around the world.”
Learn the article on-line at: https://www.lngindustry.com/lng-shipping/28092023/qatarenergy-signs-new-lng-shipbuilding-agreement-with-hd-hyundai-heavy-industries/