QatarEnergy celebrated the steel cutting of the first of its new generation of chartered LNG vessels to be constructed in a Korean shipyard.
QatarEnergy joined Samsung Heavy Industries, and JP Morgan Asset Management in a special ceremony on Geoje Island in the Republic of Korea to celebrate this milestone, which is part of QatarEnergy’s historic LNG Fleet Expansion Project.
In April, the state-owned giant announced it is embarking on another significant wave of fleet expansion, to underpin its domestic expansion of the North Field project, as well as investments in the Golden Pass LNG terminal in the US Gulf Coast region.
This event signifies an extension of QatarEnergy’s international collaborations and commitment to global partnerships and follows the October 2022 successful initiation of steel cutting at Hudong-Zhonghua, a Chinese shipyard renowned for its excellence in LNG shipbuilding.
The steel cutting ceremony in South Korea follows QatarEnergy’s 2020 decision to enter into Ship Slot Reservation Agreements with three Korean shipyards: Samsung Heavy Industries, Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering. Subsequently, in 2022, QatarEnergy signed multiple Time Charter Parties with various shipowners, including affiliates of JP Morgan Asset Management, a fund investing in a wide array of transportation assets.
