QatarEnergy has signed long-term time charter party (TCP) agreements with three Chinese ship owners. These agreements will cover the operation of nine new, ultra-modern LNG vessels, aimed to increase QatarEnergy’s LNG production capacity from the North Field to 142 million tons per annum (mtpa) by 2030.
TCP agreements cater for the operation of the vessels by affiliates of China Merchants Group, Shandong Marine Group, and China LNG Shipping (Holdings) Limited. All nine vessels will have a capacity of 271,000 cubic meters each.
The TCP agreements were signed in Beijing between Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and the President and CEO of QatarEnergy with Wang Yongxin, President of CMES (for the operation of four vessels), Li Maozhong, Chairman of Shandong Marine Energy (for the operation of three vessels), and Cong Jian, General Manager of CLNG, (for the operation of two vessels).
“These nine vessels are part of QatarEnergy’s historic program to support our expanded LNG production capacity from the North Field, which will reach 142 million tons per annum by 2030, and which will also help meet our long-term fleet replacement requirements,” Minister Al-Kaabi commented on the occasion.
“Our partnerships with China’s shipbuilding industry and the esteemed shipowners, will ensure the long-term operation, deployment, and management of these vessels in a manner that maximizes their potential over decades to come. As we build this partnership, I am reminded of the trust and collaboration that characterizes our relationship, which I believe will continue to grow and flourish as we place more building blocks along the way,” he added.
The nine vessels are part of 18 QC-Max LNG carriers that will be built in Hudong-Zhonghua shipyards in China.