South Korean news outlets have reported that QatarEnergy is in advanced discussions with leading shipbuilders Samsung Heavy Industries, Hanwha Ocean, and HD Korea Shipbuilding & Offshore Engineering to construct and deliver 20 new liquefied natural gas (LNG) carriers. The total value of the contracts is estimated at around US$5 billion.
The new LNG carriers will be split into two distinct series. One series will consist of vessels with a cargo capacity of 174,000 cubic meters, while the other series will include ships capable of transporting up to 271,000 cubic meters of LNG.
The 271,000-cubic-meter vessels will be near-identical to six ships currently being built by China’s Hudong-Zhonghua Shipbuilding, which were ordered by QatarEnergy under a separate contract earlier this month.
This acquisition is part of QatarEnergy’s broader fleet expansion strategy, first announced in 2020. The initiative aims to add over 100 new LNG carriers to its fleet by the end of 2028, positioning QatarEnergy to meet growing global LNG demand and maintain its status as a leading LNG exporter.