QatarEnergy, HHI sign $3.9bn agreement to build 17 LNG carriers

QatarEnergy has signed a 14.2bn Qatari riyal ($3.9bn) deal with HD Hyundai Heavy Industries (HHI) of Korea to build 17 LNG carriers, it said on September 27. The deal is the second phase of QatarEnergy's LNG ship acquisition programme. 

Together with the 60 ships that were contracted for by QatarEnergy in the first phase of the programme, which will be built at Korean and Chinese shipyards, this agreement brings the total number of confirmed new LNG vessels to be delivered to QatarEnergy and its affiliates to 77.

Qatar, the world’s biggest LNG exporter in 2022, took a final investment decision (FID) in February 2021 on the $29bn North Field East (NFE) expansion project, due to raise Qatar’s liquefaction capacity from the current 77mn tonnes/ year to 110mn tonnes/year by the middle of the decade. It is currently preparing to greenlight North Field South, which will increase capacity even further to 127mn tonnes/year.