Qatar Petroleum signs the largest LNG shipbuilding agreements in history to secure more than 100 ships valued in excess of QR 70 billion to cater for its LNG growth plans

Qatar Petroleum entered into three agreements today to reserve LNG ship construction capacity in the Republic of Korea to be utilized for Qatar Petroleum’s future LNG carrier fleet requirements, including those for the ongoing expansion projects in the North Field and in the United States, the company said in its release.

Under the agreements, the “Big 3” Korean shipyards - Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) - will reserve a major portion of their LNG ship construction capacity for Qatar Petroleum through the year 2027.

Qatar Petroleum’s LNG carrier fleet program is the largest of its kind in the history of the LNG industry, and will play a pivotal role in meeting the shipping requirements of Qatar Petroleum’s local and international LNG projects, as well as replacing part of Qatar's existing LNG fleet.