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Qatar makes plans to order 60 new LNG carriers

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As the global LNG industry continues its rapid growth, Qatar has outlined plans to order as many as 60 new LNG carriers. The plans were announced by Qatari State Energy Minister Saad Sherida Al-Kaabi at a state summit meeting held between South Korea and Qatar.
Qatar will require new LNG carriers if it is to meet its anticipated 43% increase in LNG production.
(Image via QatarGas).

The need for 60 new LNG carriers to complement its existing fleet of 50 LNG carriers is a result of Qatar’s plans to expand its production capacity from the current 77 million tonnes per annum to 110 mtpa, a 43% increase. It aims to achieve this by adding four new liquefaction trains that will produce around 32 mtpa of LNG, 4,000 tones/day of ethane, 260,000 barrels/day of condensate, and 11,000 tons/day of LPG, in addition to approximately 20 tons per day of pure helium.

Qatar and South Korea already have a strong relationship with Qatar being South Korea’s largest supplier of LNG and sixth biggest supplier of oil. Meanwhile, most of the current Qatari fleet of LNG carriers were built by the three major shipyards in South Korea.

Korean President Moon Jae-in, who was present at the summit, commented on the plans, stating:

“Korea and Qatar are both situated on a peninsula and thus the shipping industry is very important. The two countries’ common shipping and harbour foundation can lead to mutual development. The shipping industry is recently undergoing a transition to eco-friendlier vessels due to maritime and air pollution. This transition to liquefied natural-gas powered vessels will help expand demand for LNG”.

The three biggest South Korean shipbuilders- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries- have previously built 45 LNGCs under charter to Qatargas to transport LNG to global markets.

It is expected that South Korean shipbuilders will be considered the primary option for building the new LNG carriers for Qatar.

The LNG industry is becoming a major source for engineering jobs

As we’ve written previously here on EngineeringPro, the LNG industry is a growing source of engineering jobs across Asia, and Fircroft is recruiting for them. You can make sure you’re in the ideal position to secure one of these jobs by registering with Fircroft now.
Tags: Oil & Gas
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