Space Travel News
OIL AND GAS
QatarEnergy signs $6bn deal with China shipbuilder
QatarEnergy signs $6bn deal with China shipbuilder
by AFP Staff Writers
Doha (AFP) April 29, 2024

A Chinese ship-building giant will construct 18 huge gas carriers for QatarEnergy under a $6 billion deal the Gulf firm announced on Monday, hailing it as the largest ever such contract.

The China State Shipbuilding Corporation (CSSC) is set to deliver eight Liquified Natural Gas (LNG) vessels in 2028 and 2029, and the others in 2030 and 2031, the energy company said.

The LNG carriers will be built at China's Hudong-Zhonghua shipyard and measure 271,000 cubic metres each, the emirate's state-owned company said in a statement following a signing ceremony in Beijing.

"With a total value of almost $6 billion for these ultra-modern, largest ever LNG vessels by size, the agreement we signed today is the industry's largest single shipbuilding contract ever," said Energy Minister Saad al-Kaabi, who is also QatarEnergy's CEO.

Qatar is one of the world's top LNG producers alongside the United States, Australia and Russia.

Asian economies led by China, Japan and South Korea have been the main market for Qatari gas, but demand has also grown from European countries since Russia's war on Ukraine threw supplies into doubt.

Last month, QatarEnergy announced it had signed deals for a total of 104 smaller, conventional-size vessels which the state-owned firm called "the largest shipbuilding and leasing programme ever in the history of the industry".

The fleet expansion plans come after a flurry of announcements for long-term Qatari gas supply deals. In recent months, Qatar has inked LNG deals with France's Total, Britain's Shell, India's Petronet and Italy's Eni among others.

In November, Qatar agreed to supply Sinopec with three million tonnes of gas a year for 27 years, its second such deal with the Chinese firm granting it a further share of Qatar's North Field gas expansion project.

The expansion, which broke ground last year, contains the world's biggest natural gas reserves and extends under the Gulf into Iranian territory.

QatarEnergy estimates the North Field holds about 10 percent of the world's known natural gas reserves.

csp/fz

QatarEnergy

Shell

ENI

SINOPEC - CHINA PETROLEUM & CHEMICAL CORPORATION

Related Links
All About Oil and Gas News at OilGasDaily.com

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
OIL AND GAS
UAE firm suspends work at Iraq gas complex after deadly strike
Dubai (AFP) April 29, 2024
Emirati-owned Dana Gas has suspended operations at a gas complex in Iraq's autonomous Kurdistan region after a drone strike that killed four people, it said on Monday. The Khor Mor complex owned by the United Arab Emirates firm has been hit several times in recent years, but Friday's attack was the first deadly incident. Four workers died and eight others were wounded when the drone struck a condensate storage tank, Dana Gas said in a statement to the Abu Dhabi Securities Exchange. "Although ... read more

OIL AND GAS
OIL AND GAS
China aims to retrieve Martian soil samples by 2030

Hera mission plans Mars flyby en route to asteroid study

NASA Mars Analog Crew Approaches Mission Conclusion

Exploring methane mysteries on Mars: Curiosity Rover's new findings

OIL AND GAS
China to launch Chang'e 6 spacecraft for moon mission

Chang'e 7 mission set for lunar south pole survey in 2026

China's Chang'e 7 lunar mission will host international instruments

China expands Space Station Program to include international astronauts

OIL AND GAS
Juno mission reveals volcanic landscapes on Io

Probing liquid water beyond Earth with advanced radar technology

Dating the Solar System's orbital changes with enstatite meteorites

Pluto's heart-shaped feature explained by international research team

OIL AND GAS
Study traces bioluminescence back 540 million years in octocorals

Hidden biosphere discovered beneath world's driest hot desert

Astronomers propose new formation model for JuMBO free-floating planets

Tracing life's origins: Cambridge team explores early Earth conditions

OIL AND GAS
SpaceX ties record with 20th Falcon 9 booster re-use in Galileo L12 launch

Private firm advances with new liquid-fuel rocket development

Spaceport Company and Maritime Launch Collaborate on Tracking Systems for Nova Scotia Spaceport

Ariane 6 prepares for inaugural launch from Europe's Spaceport

OIL AND GAS
Shenzhou XVIII astronauts enter space station

China outlines objectives for Shenzhou XVIII space mission

Scientific projects on China's space station yield significant results

China-Latin America and Caribbean States Space Cooperation Forum underway

OIL AND GAS
Hubble discovers new small asteroids in main belt survey

Winchcombe meteorite's tumultuous space odyssey uncovered by nano-analysis

International Collaboration Boosts Planetary Defense Efforts with Hera Mission

New insights on the young ice deposits of Ceres

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.