QatarEnergy Expands QC-Max LNG Vessel Fleet at Chinese Shipyard

QatarEnergy signed an agreement with China State Shipbuilding Corp. (CSSC) to build six additional QC-Max vessels at the Hudong-Zhonghua Shipyard. Following this construction, QatarEnergy will have 128 total LNG vessels under its fleet expansion program, including 24 QC-Max mega vessels—each with a 271,000 m³ capacity. The new carriers are scheduled for delivery between 2028 – 2031.

“The signing of today’s agreement is underscored by the strategic importance of QatarEnergy’s LNG fleet expansion program and its commitment to maintaining a position in the global LNG market,” said Saad Sherida Al-Kaabi, President and CEO of QatarEnergy. “We are pleased to expand our working relationship with CSSC and Hudong-Zhonghua. We look forward to receiving these advanced LNG vessels and expanding our role in providing the world with the cleaner energy needed for a realistic and practical energy transition.”

The six new carriers are in addition to 18 QC-Max vessels ordered from Hudong-Zhonghua Shipyard, with a total fleet value of approximately $8 billion. QC-Max vessels have enhanced fuel efficiency and reduced emissions, increasing QatarEnergy’s capacity to satisfy the globally increasing LNG demand and adhering to safety and environmental standards.

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In late August 2024, QatarEnergy signed a 15-year LNG SPA with Kuwait Petroleum Corp. for the supply of up to 3 MTPA of LNG to Kuwait. The specified LNG volumes will be delivered, starting in January 2025, via ship to Kuwait’s Al-Zour LNG terminal. LNG will be transported onboard QatarEnergy’s conventional Q-Flex and Q-Max LNG vessels. The SPA was signed during a ceremony in Kuwait City and is the second long-term LNG SPA between the companies. This continued collaboration aids bilateral trade between the State of Qatar and the State of Kuwait.

In May, QatarEnergy, TotalEnergies, Petronas, Petrogal Brazil, and Petrobras took the final investment decision in the second development phase of the Sépia field located off the coast of Brazil in the pre-salt Santos Basin. The contract signed with Seatrium O&G Americas Ltd. is to construct an FPSO unit to operate in the Sépia field’s deep waters and have a crude oil production capacity of 225,000 oil barrels per day, and a gas-processing capacity of 10 million cubic meters per day.

Seatrium’s FPSO is slated to reduce greenhouse gas (GHG) emission intensity by 30% per barrel of oil equivalent. GHG emission intensity will be reduced by the FPSO’s all-electric configuration and processing plant optimizations to increase energy efficiency. The FPSO will be built in shipyards in Brazil, China, and Singapore, and it will be the second FPSO to operate in the Sépia field alongside the Carioca FPSO. This unit is targeted to operate in the northern section of the Sépia field.

Also in May, QatarEnergy signed a joint venture agreement with ExxonMobil to purchase a 40% participating interest in two offshore exploration blocks near Egypt. The 40% interest acquisition applies to the Cairo and Masry offshore concession agreements, and the operator, ExxonMobil, will maintain a 60% working interest. These offshore exploration blocks were awarded to ExxonMobil in January 2023, spanning an approximate area of 11,400 square km in depths of 2,000 to 3,000 meters.