QatarEnergy, Nakilat sign charter deal for nine QC-Max LNG vessels
State-backed QatarEnergy has signed a long-term agreement with Qatar Gas Transport Company (Nakilat) for the charter and operation of nine 271,000 m3 C-Max class LNG vessels, the company revealed on May 8.
These nine QC-Max vessels represent half of the 18 QC-Max class LNG vessels slated for construction at China’s Hudong-Zhonghua Shipyard. As part of QatarEnergy's fleet expansion programme, encompassing both conventional LNG vessels and QC-Max class LNG vessels, this agreement brings the total count of ultra-modern vessels to 122. The first new ship is expected to be delivered by the end of the third quarter of this year.
This long-term agreement follows Nakilat's recent deals as the owner and operator of 25 conventional-size LNG vessels. It also aligns with QatarEnergy's ongoing LNG fleet expansion programme, which includes similar agreements with three Chinese ship owners for the operation of nine new QC-Max class LNG vessels.
Qatar, the world's largest LNG exporter, held a groundbreaking ceremony on October 3 last year for the North Field expansion project, which will raise the country's LNG production capacity from 77mn tonnes/year to 126mn tonnes/year by 2026.
In December last year, QatarEnergy announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG.
In February this year, QatarEnergy unveiled the North Field West LNG expansion project, which aims to elevate Qatar's LNG production capacity to 142mn tonnes/year before the end of the decade, marking an 85% increase from current production levels.