{"id":80189,"date":"2024-08-06T00:00:00","date_gmt":"2024-08-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/08\/06\/qatarenergy-is-reportedly-in-talks-to-place-a-usd-3-3-bn-vessel-order-from-south-korea\/"},"modified":"2024-08-06T00:00:00","modified_gmt":"2024-08-06T00:00:00","slug":"qatarenergy-is-reportedly-in-talks-to-place-a-usd-3-3-bn-vessel-order-from-south-korea","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/08\/06\/qatarenergy-is-reportedly-in-talks-to-place-a-usd-3-3-bn-vessel-order-from-south-korea\/","title":{"rendered":"QatarEnergy is reportedly in talks to place a USD 3.3 bn vessel order from South Korea"},"content":{"rendered":"

QatarEnergy <\/strong>isn\u2019t done ramping up its LNG fleet:<\/strong> QatarEnergy is reportedly in talks with three South Korean shipyards to build 10 Q-Max LNG carriers with a 270k cbm capacity for an estimated investment ticket of USD 3.3 bn, industry sources told Korea Economic Daily<\/a>. The talks have reportedly been taking place since June.<\/p>\n

(** Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Background:<\/strong> QatarEnergy inked a contract with Hudong-Zhonghua Shipbuilding, a subsidiary of China State Shipbuilding Co, for 18 supersize LNG newbuilds<\/a> in April for USD 6 bn, KED reports, which leads industry insiders to speculate the current contracts in play would amount to USD 3.3 billion if carriers are sold at similar prices.<\/p>\n

Expanding its existing orderbook:<\/strong> QatarEnergy inked a time-charter party agreement back in March<\/a> with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25 conventional size LNG vessels as part of the second ship-owner tender under QatarEnergy\u2019s LNG Fleet Expansion program. Hyundai Heavy Industries is slated to construct 17<\/a> of the vessels, while the other eight will be built by Hanwha Ocean. <\/p>\n

Boosting its fleet:<\/strong> The agreement supports QatarEnergy\u2019s drive to bolster its LNG production capacity to some 142 mn tons per year by 2030.<\/p>\n

The GCC is investing in LNG vessels:<\/strong> Adnoc Logistics and Services (L&S) inked contracts worth USD 2.5 bn just last month<\/a> with South Korean shipyards Samsung Heavy Industries and Hanwha Ocean for eight to 10 LNG carriers.<\/p>\n","protected":false},"excerpt":{"rendered":"

QatarEnergy is reportedly in talks with Hyundai Heavy Industries, Hanwha Ocean and Samsung Heavy Industries.<\/p>\n","protected":false},"author":1,"featured_media":80190,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[190],"tags":[227,153,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-80189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shipping-maritime","tag-lng","tag-qatar","tag-shipping-maritime","wpautop","entry"],"acf":{"mongo_id":"5af96b62-9429-473e-a574-14497c2df36b","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/456.jpg","photo_position":"above","homepage_title":"","full_issue_title":"QatarEnergy 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