Middle East News: #Qatar Orders $20 Billion of LNG Tankers - Bloomberg

Middle East News: Qatar Orders $20 Billion of LNG Tankers - Bloomberg:

Qatar has signed a deal worth around $20 billion with South Korean shipbuilders to help cement its position as the world’s largest producer of liquefied natural gas. 

The Gulf emirate entered into agreements with Daewoo Shipbuilding & Marine Engineering Co., Hyundai Heavy Industries Co. and Samsung Heavy Industries Co., according to a statement on Monday from state producer Qatar Petroleum. The three Korea-based firms will reserve a “major portion” of their LNG ship-construction capacity for QP through 2027.

The deal, valued at around 70 billion Qatari rials ($19.1 billion), could see them build more than 100 LNG vessels for Qatar, QP said.

“We have everything in place to commence the largest LNG-shipbuilding program in history,” said Saad Al-Kaabi, QP’s chief executive officer and Qatar’s energy minister. “We have secured approximately 60% of the global LNG shipbuilding capacity through 2027.”