Qatarenergy Signs Time Charter Agreements With 3 International Companies
Date
4/29/2024 2:08:49 PM
(MENAFN- Gulf Times) Deal is for operation of 9 QC-Max size LNG vessels
QatarEnergy signed long-term time charter party (TCP) agreements with three ship owners for the operation of nine new, ultra-modern LNG vessels as part of the QC-Max part of its historic LNG fleet expansion programme.
The long-term TCP agreements cater to the operation of the vessels by affiliates of China Merchants Group, Shandong Marine Group, and China LNG shipping (Holdings) Limited.
All nine vessels will have a capacity of 271,000 cubic metres each.
HE the Minister of State for energy Affairs, Saad bin Sherida al-Kaabi, also the President and CEO of QatarEnergy, signed three separate sets of agreements with Wang Yongxin, president, CMES (for the operation of four vessels); Li Maozhong, chairman, Shandong Marine Energy (for the operation of three vessels) and Cong Jian, general manager, CLNG (for the operation of two vessels).
The agreements were signed at ceremony held in Beijing on Monday and attended by senior executives from QatarEnergy, QatarEnergy LNG, and the three shipowner companies.
The signing ceremony was attended by Mohamed Abdullah al-Dehaimi, Qatar's ambassador to China.
Minister al-Kaabi said,“These nine vessels are part of QatarEnergy's historic programme to support our expanded LNG production capacity from the North Field, which will reach 142mn tonnes per year by 2030, and which will also help meet our long-term fleet replacement requirements.”
He added:“Our partnerships with China's shipbuilding industry and the esteemed shipowners, will ensure the long-term operation, deployment, and management of these vessels in a manner that maximises their potential over decades to come. As we build this partnership, I am reminded of the trust and collaboration that characterises our relationship, which I believe will continue to grow and flourish as we place more building blocks along the way.”
Al-Kaabi expressed confidence in the shipowners' unique capabilities, which will ensure the operation of these vessels to the highest and most advanced safety, technical and environmental standards.
The nine vessels are part of 18 QC-Max LNG carriers that will be built in Hudong-Zhonghua shipyards in China.
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