Hudong-Zhonghua to Build LNG Carriers for Qatar Petroleum

SCI99

2020-04-23

Hudong-Zhonghua to Build LNG Carriers for Qatar Petroleum

April 22, China State Shipbuilding Corporation (CSSC) signed the deed of agreement of reservation of ship construction capacity and options with Qatar Petroleum (QP) to build LNG carriers worth ￥20b or $3b at Hudong-Zhonghua Shipyard for Qatari emerging LNG exports.

Hudong-Zhonghua Shipyard, as CSSC and also China’s top shipyard and most experienced in LNGC building, the shipyard is capable to maintain consecutive construction on LNG carriers at the comprehensive speed of three months per ship. According to QP’s CEO and president Saad Sherida Al-Kaabi, Hudong-Zhonghua will provide a majority of its LNG docking period from 2023 to 2027. Based on this, it is estimated that the shipyard will build up 10 to 20 max of LNC carriers for QP, and it is believed the fourth generation of Hudong-Zhonghua’s LNGC degisn, the G4+ type 174,000 cbm LNG carrier.

Qatar is working on plans to expand LNG capacity to 126 Mtpa from 77 Mtpa. The $10b fleet programme construction plan is the largest of its kind in history, QP said. This will boost its capacity and replace some of its existing fleet. The award of the deal to Hudong is a blow for South Korean shipbuilders who had hoped to win the work.

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