Qatar Inks Record-Setting Shipbuilding Order with China for New LNG Carriers

QatarEnergy has signed an agreement with China State Shipbuilding Corporation for the construction of 18 ultra-modern QC-Max size LNG carriers. Valued at $6 billion, the order is said to be the largest single shipbuilding order in history.

The vessels, each with a capacity of 271,000 cubic meters, will be built at China’s Hudong-Zhonghua Shipyard. Eight of the vessels will be delivered in 2028 and 2029, and the remaining ten in 2030 and 2031.

The shipbuilding order underscores the growing cooperation between China and Qatar in the energy sector.

The agreement was formalized in Beijing, in the presence of His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and CEO of QatarEnergy, and senior executives from CSSC and Hudong?Zhonghua Shipbuilding, as well as senior Chinese government officials and Mr. Mohamed Abdullah Al-Dehaimi, Qatar’s Ambassador in China.

“With a total value of almost 6 billion dollars for these ultra-modern, largest ever LNG vessels by size, the agreement we signed today is the industry’s largest single shipbuilding contract ever,” said Mr. Saad Sherida Al-Kaabi.

Al-Kaabi also announced that 12 conventional-size LNG vessels are currently under construction at Hudong-Zhonghua, with the first batch expected to be ready by the third quarter of this year.

Last month, QatarEnergy announced Time Charter Party agreements for a total of 104 conventional-size vessels, forming the largest shipbuilding and leasing program in industry history.

The milestones are a testament to the growing cooperation between China and the Qatar, especially in the energy sector, with Qatari LNG supplies to China reaching nearly 17 million tons in 2023, establishing Qatar as a major energy resource supplier to China.