QatarEnergy Now Has Over 100 LNG Ships under Construction

April 15, 2024/in /by Rudolf Huber

100 additional ships? Thats a lot. That being said, Qatar does not have massive markets right at its doorstep. Pretty much all its LNG goes far away plus there is the expansion of production that makes more vessels necessary anyway. But let’s not forget what is happening in the Red Sea right now and the fact that there will be a lot more “around Africa” travel of LNG vessels. Add to that the trend to slow go vessels for point arrival at certain moments and also offshore storage of LNG. Plus, some vessels will be converted into FSRUs or FSUs and hence not do any transporting. Lastly, Qatar has been delivering LNG for decades now and some of the older vessels will soon join the “Old Lady Fleet”. 100 new hulls are actually rather conservative.

QatarEnergy and five shipping companies signed time-charter agreements for 44 newbuild LNG carriers, raising the number of vessels under QatarEnergy's LNG fleet expansion program to over a hundred.

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