A subsidiary of Mitsui OSK Lines (MOL) has signed a long-term charter contract for three more newbuilding LNG carriers with QatarEnergy, taking the total number of vessels to seven
In April, MOL signed a long-term charter contract with QatarEnergy for four newbuilding LNG carriers; these three new vessels will be built at Chinese shipyard Hudong-Zhonghua Shipbuilding and are scheduled for delivery in 2027.
The current deal is related to Qatar’s massive expansion of its natural gas production capacity.
The nation’s North Field Expansion Project is expected to increase Qatar’s LNG production to 126M tonnes per annum by 2027. Over the last month, QatarEnergy has allotted participating interests in the project to Shell (9.375%), TotalEnergies (9.375%) and ConocoPhillips (6.25%) with QatarEnergy holding the majority stake.
This week, Qatar awarded Malaysian firm MISC Berhad and its consortium partners NYK Group, K-Line, and China LNG Shipping (Holdings) Ltd, long-term time charter contracts for five newbuild LNG carriers.
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