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Qatar Petroleum News

08 Nov 2021

North Field Expansion: QatarEnergy Orders Six LNG Carriers from S. Korean Shipyards

Credit: Qatar Energy

Qatar's state-run energy firm QatarEnergy, until recently known as Qatar Petroleum, has ordered six LNG tankers, four from Daewoo Shipbuilding & Marine Engineering (DSME) and two from Samsung Heavy Industries (SHI) in support of its North Field expansion project.Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “We are pleased to take this further step with DSME and SHI, which have built 23 Q-Flex and 14 Q-Max LNG vessels for Qatar as part of our previous LNG expansion project.”Al-Kaabi further said: These orders…

04 Oct 2021

North Field Expansion: Qatar Petroleum Orders LNG Carrier Quartet in China

Credit: Qatar Petroleum

Qatar Petroleum has ordered four new LNG carriers from Hudong-Zhonghua Shipbuilding Group, a subsidiary of China's CSSC, as part of its North Field expansion project."These four carriers are the first batch of orders in Qatar Petroleum’s massive LNG shipbuilding program, which will cater for future LNG fleet requirements for the North Field expansion projects as well as for existing vessel replacement requirements. This order is also the first ever placed by Qatar Petroleum or any of its affiliates with a Chinese shipyard for LNG ships…

30 Sep 2021

Qatar Strikes Long-Term LNG Supply Deal with China's CNOOC

Credit: Qatar Petroleum

Qatar Petroleum has signed a long-term LNG sales deal with China's CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC).QP will supply of 3.5 million tons per annum (MTPA) of LNG to CNOOC over a 15-year period starting January 2022.The SPA was signed during a virtual ceremony by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, and Wang Dongjin, the Chairman of CNOOC.Al-Kaabi said…

28 Jul 2021

LNG Price Recovery Spurs Spending in Race against Carbon Targets

Illustration - An offshore platform in Qatar - Credit: Qatargas

The investment outlook for liquefied natural gas (LNG) has improved this year but project go-aheads will not match the bonanza of 2019, as the fight against climate change clouds the prospects for gas demand growth longer term.Renewed optimism as the industry emerges from the pandemic, rapidly rebounding oil and gas prices and a better economic outlook is building confidence in short and long term LNG demand in Asia and spurring companies to look at new LNG projects, most of which were shelved last year when prices slumped.However, they need to take into account the ever tighter carbon emissio

09 Jun 2021

Pavilion Energy Pens 10-Year LNG Deal with BP

Credit: BP

Singapore's Pavilion Energy has signed a 10-year deal to buy liquefied natural gas (LNG) from BP's Singapore unit starting in 2024, the companies said on Wednesday, as the city-state seeks to diversify its gas supply sources.The long-term binding LNG sale and purchase agreement (SPA) is for the supply of about 0.8 million tonnes of LNG a year to Singapore, Pavilion and BP said in a joint statement. They did not give financial details.This is the third long-term deal that Pavilion, owned by Singapore state investor Temasek Holdings, has signed since November.

30 Mar 2021

Qatar Petroleum to Take Full Control of Qatargas 1

Credit: Qatargas

Qatar Petroleum said Tuesday it wouldn't be renewing its Qatargas 1 LNG joint venture with Total, ExxonMobil, Marubeni, and Mitsui.Upon the expiry of the relevant joint venture agreements on December 31, 2021, Qatar Petroleum will become the sole owner of 100% of the Qatargas assets and facilities.Established in 1984, Qatargas 1 is a joint venture between Qatar Petroleum and affiliates of Total, ExxonMobil, Marubeni, and Mitsui."QG1 was the pioneering LNG project to be developed in Qatar…

05 Nov 2020

McDermott Ships Second Batch of Topside Modules for Modec FPSO

Credit: McDermott

Offshore engineering and construction firm McDermott on Thursday announced the second shipment of topside modules for a floating production storage and offloading (FPSO) unit for Japans' Modec.The new shipment comes just weeks after the first shipment of modules sailed away from McDermott's Altamira fabrication facility in Mexico to be installed on the FPSO named Miamte MV34.The once completed, the FPSO will be located in the Eni-operated Area 1 block, approximately six miles…

07 Oct 2020

First Topside Modules Ship for Miamte MV34 FPSO

(Photo: McDermott International)

The first batch of topside modules has been shipped for a floating production storage and offloading (FPSO) unit for Japan's MODEC, U.S.-based engineering and construction firm McDermott International said on Wednesday.The FPSO, named Miamte MV34, will be used on the Amoca and Mizton fields located in the Eni-operated Area 1 block, in the Campeche Bay approximately 10 kilometers off the coast of Mexico, in approximately 32 meters water depth. First oil is planned in 2021.McDermott's…

27 Sep 2020

Milaha, Schlumberger to Build Stimulation Vessel

(Photo: Milaha)

Qatar's maritime and logistics firm Milaha said it entered into a formal agreement with U.S. headquartered oilfield services firm Schlumberger to cooperate on projects that will localize the energy sector supply chain, including the construction of a Qatari offshore oil well stimulation vessel.Milaha said its offshore and marine arm signed the memorandum of understanding (MOU) that will support value building projects while jointly driving Qatar Petroleum-led Tawteen program,…

30 Jun 2020

COSCO Orders Three LNG Carriers at Hudong-Zhonghua

File photo: A 170,000m3 class LNG carrier delivered by Hudong-Zhonghua in 2017 (Photo: Hudong-Zhonghua Shipbuilding Co)

Hudong-Zhonghua Shipbuilding Co, a unit of China State Shipbuilding Corp, has signed contract to construct three liquefied natural gas (LNG) carriers worth 3.9 billion yuan ($551.62 million), reported the state-backed Jiefang Daily on Tuesday.The LNG carriers, each with a capacity of 174,000 cubic metres, will be operated by China COSCO Shipping and be deployed for LNG shipping services for PetroChina International Co, an affiliate of China National Petroleum Corp."The construction of the new LNG carriers is to response government calls to expand domestic demand," Jiefang Daily reported, citin

02 Jun 2020

S. Korean Shipbuilder Shares Soar on $19B Deal with QP

A Hyundai Heavy LNG Carrier - For illustration only - Credit: HHI

Shares in South Korean shipbuilders rallied more than 20% on Tuesday following $19 billion worth of deals to build vessels for Qatar Petroleum (QP).QP said on Monday it has signed agreements with South Korea's "Big 3" shipyards to secure more than 100 ships costing over 70 billion Qatari riyals ($18.65 billion), describing the deals as "the largest LNG shipbuilding in history."The agreements signed with Daewoo Shipbuilding & Marine Engineering Co Ltd, Hyundai Heavy Industries…

01 Jun 2020

Qatar Petroleum in 'Largest LNG Shipbuilding Deal in History'

Saad Sherida Al-Kaabi - Qatar Petroleum CEO

Qatari state-owned oil and gas company Qatar Petroleum has entered into what it says "are the largest LNG shipbuilding agreements in history to secure more than 100 ships valued in excess of QR 70 billion [USD19,2 billion] to cater for its LNG growth plans." Qatar Petroleum said Monday it had entered into three agreements with Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI), and Samsung Heavy Industries (SHI), respectively, to reserve LNG ship construction capacity in South Korea…

22 Apr 2020

Qatar Books Chinese Shipyard Capacity in LNG Carrier Fleet Expansion Push

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum

Qatari state-owned oil and gas company Qatar Petroleum has signed a deal to reserve LNG ship construction capacity in China in a deal potentially worth more than $3 billion.QP said that the reserved LNG carrier construction capacity would be used for QP’s future LNG carrier fleet requirements, including those of its ongoing expansion projects of the giant offshore gas field North Field.Qatar Petroleum struck a deal with and Hudong-Zhonghua Shipbuilding Group Co., Ltd., a subsidiary of China State Shipbuilding Corporation Limited (CSSC).

11 Feb 2020

Shell, Qatargas Sign LNG Deal for Kuwait

The world’s largest liquefied natural gas (LNG) producer Qatargas has signed a new, long-term LNG sale and purchase agreement (SPA) with Shell to deliver 1 million tons per annum of LNG to Kuwait, commencing this year.Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs said, “We are pleased to announce this new long term agreement between Qatargas and Shell for the supply of LNG to the State of Kuwait, following the recent agreement signed between Qatar Petroleum and Kuwait Petroleum Corporation. These agreements demonstrate our commitment to the State of Kuwait, which is a very important LNG market and is part of our strive to be the LNG supplier of choice for our customers."Al-Kaabi said: "I would like to take this opportunity to thank our valued partner…

06 Jan 2020

Kuwait Signs 15-yr LNG Gas Deal with Qatar

State-owned Kuwait Petroleum Corp signed a 15-year agreement with Qatar Petroleum to import three million tonnes of liquefied natural gas (LNG) each year starting from 2022.The agreement was signed by Dr. Khaled A. Al-Fadhel, the Minister of Oil and the Minister of Electricity & Water, the Chairman of the Board of Kuwait Petroleum Corporation and His Excellency Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, during a special ceremony held in Kuwait City.Under the 15-year agreement, LNG deliveries to Kuwait’s new world-class LNG receiving terminal at Al-Zour Port will commence in 2022 to support meeting Kuwait’s growing energy needs and demand…

17 Dec 2019

HullWiper Hull Cleaning Comes to Qatar

Underwater hull cleaning specialist HullWiper Ltd is joining forces with GAC Qatar in preparation to launch its hull cleaning solution at the Qatari port of Ras Laffan in early 2020 to meet growing demand for eco-friendly hull cleaning solutions.GAC Qatar is the only company to have been granted a license by the country’s Environment Ministry to operate hull cleaning equipment in its waters.HullWiper’s Remotely Operated Vehicle (ROV) complies with Qatar’s regulations, which include collection of 100% of biofouling removed during cleaning for safe disposal at the Qatar Petroleum (QP) facility after a QP test, and the maintain proper cleaning records for monthly submissions to QP Environment office…

09 Dec 2019

Ocean LNG Leads in Contracted Capacity

Ocean LNG has dominated in terms of long-term liquefied natural gas (LNG) import volumes for contracts signed by key purchasing companies for the year 2019, with almost 47% of the global contracted capacity.According to a report by GlobalData, Ocean LNG signed the biggest long-term LNG contract for 2019 with Golden Pass Products. According to the contract, Golden Pass Products will supply Ocean LNG with 15.6 million tonnes per annum (mtpa) of LNG for a period of 20 years, from 2024 to 2044.The gas will be supplied from the Golden Pass II LNG liquefaction terminal in Texas, US, it said.Sunrita Dutta, Oil and Gas Analyst at GlobalData, explains: “Ocean LNG is a joint venture (JV) between Qatar Petroleum, which owns a 70% stake, and Exxon Mobil Corporation, with 30%.

29 Nov 2019

Qatar Eyes LNG Top Spot

Qatar is eyeing liquefied natural gas (LNG) top spot as it primes 64% output boost, said Wood Mackenzie.Qatar Petroleum (QP) announced that it will boost output from Qatar LNG by 64% - from 77 million tonnes per annum (tpa) at present to 126 million tpa by 2027 – following a successful appraisal of the North Field’s onshore extension, near Ras Laffan Industrial City.Liam Kelleher, from  Wood Mackenzie’s gas and LNG team said: “QP had already been targeting an increase to 110 million tpa, via the four 8 million tpa megatrains at the North Field Expansion (NFE) project."This latest announcement will add a further two 8 million tpa trains…

26 Nov 2019

Qatar Ups LNG Production by 64% to 126 MTPA by 2027

Qatar Petroleum has announced that it will raise Qatar’s LNG production capacity to 126 million tons per annum (mtpa) by 2027, representing an increase of 64% from the current 77 mtpa.The announcement was made by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, at a press conference held in Doha, during which he also announced that new studies have revealed that the North Field’s productive layers extend well into Qatari land in Ras Laffan, paving the way for a new LNG production project in the north of Qatar.Al-Kaabi said: “During the past two years, Qatar Petroleum worked diligently to determine the degree to which the North Field extends towards the south west…

23 Oct 2019

QP Begins VLSFO Bunkering at Ras Laffan Port

State-owned oil company Qatar Petroleum announced the commencement of Very Low Sulfur Fuel Oil (VLSFO) bunker supply operations at Ras Laffan Industrial City (RLIC) Port.The VLSFO marine fuel offering has been initiated in advance of the International Maritime Organization (IMO) 2020 regulation for a 0.50% global Sulfur limit for marine fuels which will come into effect 1st January 2020.Qatar Petroleum, in conjunction with Qatar Fuel (Woqod), initiated bunkering services in Qatar in June 2017 with the importation of its maiden HFO cargo (RMG 380 CST 3.5% Sulfur) in order to cater for the bunkering needs of both Qatargas’ LNG fleet and other vessels calling to Ras Laffan and the region.From June 2017 through August 2019…

20 Oct 2019

Nakilat Posts 10.5% Surge in 9 Month's Net Profit

Qatari shipping and maritime company Qatar Gas Transport Company (Nakilat) reported a 10.5% year-on-year increase in net profit to QR728mn (USD 200 million) in the first nine months of this year.Nakilat, which has the largest LNG shipping fleet in the world, comprising 69 vessels, said in a press note that its positive financial performance can be primarily attributed to better operational performance in managing its liquefied natural gas (LNG) and liquefied petroleum gas (LPG) vessels.The company also realized higher revenues on additional income from the acquisition of two additional LNG carriers and one Floating Storage Regasification Unit (FSRU) in 2018…

15 Oct 2019

Korean Shippers Jointly Pitch for Qatari LNG Newbuilds

Five South Korean shipping companies - Korea Line, Pan Ocean, SK Shipping, Hyundai LNG Shipping and H-Line Shipping -  could partner up to secure liquefied natural gas transportation services for Qatar’s LNG production capacity expansion project.Qatar Petroleum is expected to put up shipping contracts for at least 40 LNG carriers by the end of the year for its North Field Expansion project, which aims to increase the nation’s LNG production capacity from 77 million tons to 110 million tons per annum starting in 2024.According to Yonhap, the Qatari state-run company will need an additional 60 LNG carriers for the project.While South Korea’s major shipbuilders are considered the favorites to take the LNG carrier construction orders from Qatar due to their dominant presence in the LNG ship ma

26 Sep 2019

Fluxys Sign LNG Contract with Qatar

Qatar Petroleum subsidiary Qatar Terminal Limited (QTL) and Fluxys Belgium subsidiary Fluxys LNG signed a long-term LNG Services Agreement for the Zeebrugge LNG terminal.Under the agreement, QTL subscribes unloading slots at the facility from the expiry of the current long-term unloading contracts and up to 2044.The agreement was signed during a ceremony held in Brussels today by Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, and Pascal De Buck, CEO and Chairman of the Executive Board of Fluxys Belgium, in the presence of Her Excellency Marie-Christine Marghem, the Belgian Federal Minister of Energy…