Qatar Energy and Nakilat Enter Long-Term Agreement to Charter and Operate 9 LNG Vessels

QatarEnergy signed a long-term agreement with Qatar Gas Transport Company Limited (Nakilat) pursuant to which Nakilat will own and operate nine “QC-Max” class LNG vessels, the largest LNG vessels ever built. Recently, Qatar Energy signed an agreement to build  18 LNG Vessels in China’s CSSC. 

With the execution of shipbuilding contracts and time charter agreements for 104 conventional LNG vessels and 18 QC-Max class LNG vessels, QatarEnergy's fleet expansion program has resulted in a total of 122 ultra-modern vessels, with the first new ship scheduled for delivery by the end of the third quarter of this year.

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On this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, commented, "We are very proud to have Qatar's flagship LNG shipping and maritime champion join a list of world-class shipowners operating our state-of-the-art QC-Max LNG vessels—the largest ever built." There is no doubt that this is another testament to Nakilat’s significant capabilities.” 

The long-term agreement follows February’s selection of Nakilat as the owner and operator of 25 conventional-size LNG vessels. It also follows the signing of similar agreements in Beijing with three Chinese ship owners for the operation of nine new QC-Max class LNG vessels as part of QatarEnergy’s historic LNG fleet expansion programme, which will cater for QatarEnergy’s future LNG projects around the world. The company is moving forward with the expansion of its LNG production capacity from the North Field to 142 million metric tons per year by 2030.

Details about the LNG Vessels

QatarEnergy and Nakilat have entered into a long-term agreement to charter and operate nine QC-Max class LNG vessels. Here are the details about these vessels:

Capacity: Each QC max vessel has a capacity of 271,000 cubic meters.

Ownership and Operation: The vessels will be 100% owned and operated by Nakilat and chartered to affiliates of QatarEnergy.

Construction: The vessels will be built in China at Hudong-Zhonghua shipyards.

Purpose: These vessels are part of QatarEnergy’s program to expand its fleet of LNG carriers.

Previous Agreements: This signing follows QatarEnergy’s recent agreements with Nakilat for the ownership and operation of 25 conventional-size LNG vessels

Total Vessels: With this agreement, the total number of LNG vessels secured by Nakilat has increased to 34.

Read: Qatar Energy to Build 18 LNG Vessels in China’s CSSC at the Cost of $6 Billion

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