QatarEnergy celebrated the steel cutting of the first of its new generation of chartered Liquefied Natural Gas (LNG) vessels to be built in a South Korean shipyard.
Building upon an already successful global maritime initiative, QatarEnergy joined Samsung Heavy Industries and JP Morgan Asset Management in a special ceremony on Geoje Island in South Korea to celebrate this milestone, which is part of QatarEnergy’s historic LNG Fleet Expansion Project.
This event signifies an extension of QatarEnergy’s international collaborations and commitment to global partnerships and follows the October 2022 successful initiation of steel cutting at Hudong-Zhonghua, a Chinese shipyard renowned for its excellence in LNG shipbuilding.
The ceremony was held in the presence of Sheikh Khalid bin Khalifa al-Thani, CEO of Qatargas, attending on behalf of HE Saad Sherida al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy; Jin-Taek Jung, CEO of Samsung Heavy Industries; and Andy Dacy, CEO of JP Morgan's Global Transport Group. Also in attendance were senior executives from QatarEnergy and Qatargas.
The steel-cutting ceremony in South Korea follows QatarEnergy’s 2020 decision to enter into ship slot reservation agreements with three South Korean shipyards: Samsung Heavy Industries, Hyundai Heavy Industries, and Daewoo Shipbuilding and Marine Engineering.
Subsequently, in 2022, QatarEnergy signed multiple time charter parties with various ship owners, including affiliates of JP Morgan Asset Management, a fund investing in a wide array of transportation assets.
