Qatari oil and fuel firm QatarEnergy has ordered 17 “ultra-modern” LNG carriers from South Korea’s HD Hyundai Heavy Industries (HHI).

The deal, signed at a ceremony in Seoul, is valued at 14.2 billion Qatari Riyals (at present round $3,9 billion), and marks the beginning of the second part of QatarEnergy’s LNG ship acquisition program, which can assist its increasing LNG manufacturing capability from the North Subject LNG growth and Golden Move LNG export tasks in addition to its long-term fleet substitute necessities.

Along with the 60 ships that had been contracted for by QatarEnergy within the first part of this system, which might be constructed at Korean and Chinese language shipyards, at present’s settlement brings the whole variety of confirmed new LNG vessels to be delivered to QatarEnergy and its associates to 77, with extra to comply with, QatarEnergy mentioned.

Saad Sherida Al-Kaabi, the Minister of State for Power Affairs, the President & CEO of QatarEnergy mentioned: “These 17 LNG carriers might be constructed by HD Hyundai Heavy Industries to the very best technical and environmental requirements and specs. Additional, the vessels are designed to realize optimum gas effectivity and vital discount in carbon emissions. This emphasizes our continued dedication as a frontrunner in sustainability, innovation, and development throughout the LNG trade.”

QatarEnergy says that this “historic” LNG shipbuilding program is the most important of its variety within the historical past of the LNG trade and can play a pivotal function in assembly its future transport necessities because it expands Qatar’s LNG manufacturing capability.