Qatar Energy and CSSC sign agreement for 18 LNG ships worth US$6 billion

Qatar Energy has signed an agreement with China State Shipbuilding Corporation (CSSC) to build 18 ultra-modern QC-Max LNG vessels, marking a major addition to its historic LNG fleet expansion plans.

The new ships, each with a capacity of 271,000 cubic meters, will be built at China’s Hudong-Zhonghua Shipyard, a wholly-owned subsidiary of CSSC, and will feature the most advanced technological innovation and environmental performance.

The agreement was signed in Beijing by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and by Chen Jianliang, Chairman of Hudong‐Zhonghua Shipbuilding and Li Hongtao, Chairman of China Shipbuilding Trading Co. Ltd. during a special ceremony attended by senior executives from QatarEnergy, QatarEnergy LNG, and China State Shipbuilding Corporation.

Speaking at the ceremony, Al-Kaabi said:"These ultra-modern, largest-ever LNG ships are worth a combined value of nearly $6 billion, and the agreement we are signing today is the largest single shipbuilding contract ever awarded to the industry. "

Al-Kaabi added:"We are honored to continue to work with China State Shipbuilding Corporation and Hudong-Zhonghua Shipbuilding to develop and build some of the top LNG vessels known for their outstanding environmental qualities.

Eight of the 18 QC-Max LNG carriers will be delivered in 2028 and 2029, and the other 10 will be delivered in 2030 and 2031.

Last month, Qatar Energy announced the signing of time charter agreements for a total of 104 conventional-size vessels of 174,000 cubic meters, constituting the largest shipbuilding and leasing program in the industry’s history.

As we take this important step together, I would like to reiterate Qatar Energy’s determination to deliver on our commitment to deliver safe and reliable energy in the form of LNG, while always prioritizing environmental sustainability. "

Al-Kaabi also emphasized that Hudong-Zhonghua is currently building 12 conventional LNG ships, and the first such ship is expected to be delivered in the third quarter of this year.