China State Shipbuilding Corporation (CSSC) and Qatar Petroleum officially signed a RMB20bn ($2.86bn) contract for the construction of LNG carriers at CSSC Hudong-Zhonghua Shipbuilding. Katherine Si | Apr 22, 2020
It is the largest export LNG carrier construction contract a Chinese shipyard has ever received.
Lei Fanpei, chairman of CSSC, Saad Sherida AI-Kaabi, president and ceo of Qatar Petroleum and the Minister of State for Energy Affairs signed the contract online on behalf of two parties.
Related: Qatargas eyes potential of building LNG carriers at Hudong-Zhonghua Shipbuilding
“Hudong-Zhonghua is doing well in LNG carrier construction, we are confident that Hudong-Zhonghua will greatly support our LNG carrier expansion demand,” said Saad Sherida AI-Kaabi.
“The implement of Qatar Petroleum’s LNG carrier construction plan will inject vitality into global energy industry. The cooperation will be able to stabilize global energy industry chain and make contribution to boost world economy,” said Lei Fanpei. Qatar Petroleum, the world’s largest LNG producer, launched the tender for LNG carrier construction last year, which expected to deliver 60 LNG carriers initially to support its increasing LNG production capacity, with a potential expansion to construct 100 new LNG carriers. “Qatar’s nature gas project will invest up to $10bn in new ship construction. Hudong-Zhonghua showed its competence in LNG ship building market and won the first batch of Qatar Petroleum’s newbuidling contract,” said Chen Jianliang, chairman of Hudong-Zhonghua.
Hudong-Zhonghua Shipbuilding is one of the major shipbuilding enterprises under the flag of CSSC and was the first shipyard in China to build LNG carriers.