QatarEnergy has inked long-term time charter party (TCP) agreements with four international shipowners for the operation of 19 cutting-edge conventional size LNG vessels, marking a significant stride in QatarEnergy's landmark LNG fleet expansion program. In the second ship-owner tender, these contracts involve the operation of six vessels by CMES LNG Carrier Investment Inc., six vessels by Shandong Marine Energy (Singapore) Pte Ltd., and three vessels by MISC Berhad. All of these vessels are currently being constructed at Samsung Heavy Industries in South Korea. Additionally, the remaining four vessels will be operated by a joint venture of Kawasaki Kisen Kaisha Ltd. (K-Line) and Hyundai Glovis Co. Ltd., currently being constructed at Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering), also in South Korea.

His Excellency Mr. Saad Sherida Al-Kaabi, serving as the Minister of State for Energy Affairs and concurrently as the President and CEO of QatarEnergy, oversaw the signing of four distinct sets of agreements alongside representatives from respective shipowner entities. These included Mr. Wang Yongxin, President & CEO of CMES LNG Carrier Investment; Mr. Li Maozhong, Chairman of Shandong Marine Energy; Mr. Satoshi Kanamori, Managing Executive Officer of K Line; Mr. Jungsuk Kim, Vice President of Hyundai Glovis; and Captain Rajalingam Subramaniam, President & CEO of MISC Berhad. The signing ceremony was conducted at a special event held at QatarEnergy's headquarters in Doha and witnessed the presence of senior executives from QatarEnergy, QatarEnergy LNG, and the four shipowner companies.

In his remarks, His Excellency Mr. Saad Sherida Al-Kaabi highlighted the significance of the occasion, stating, "This signings mark a monumental milestone in QatarEnergy's LNG fleet expansion program, as it concludes the conventional size vessels portion, bringing the total number of ships for which we have signed TCPs to 104 vessels. This massive undertaking represents the largest shipbuilding and leasing program ever in the history of the industry." He underscored the significance of these vessels in bolstering QatarEnergy's increased LNG production capacity from the North Field in Qatar and Golden Pass in the U.S., while simultaneously fulfilling long-term fleet replacement needs.

Minister Al-Kaabi expressed pride in strengthening collaboration with esteemed shipowners, expressing confidence in the vessels' operation at the latest and most advanced safety, technical, and environmental standards. He extended gratitude to all involved in the acquisition and leasing process and acknowledged the unwavering support of His Highness Sheikh Tamim bin Hamad Al Thani, the Amir of the State of Qatar.

Since 2022, QatarEnergy has embarked on signing a series of TCPs for the long-term charter and operation of 104 conventional LNG vessels, as part of its historic LNG fleet expansion program. This initiative will bolster QatarEnergy's expanding LNG production capacity from the North Field LNG expansion and Golden Pass LNG export projects, while also addressing its long-term fleet replacement requirements.

Notably, 43 of the 104 vessels will be chartered by QatarEnergy's affiliate "QatarEnergy Trading," making it the single largest one-step ship acquisition program in the history of the LNG industry. The 19 conventional LNG vessels covered in today's agreements boast a capacity of 174,000 cubic meters each and will be equipped with state-of-the-art LNG shipping technologies, reflecting QatarEnergy's commitment to optimizing fuel efficiency and reducing carbon emissions.