Qatar summit could lead to big LNG carrier order for South Korea

Sarah Carter

29 January 2019

Orders for as many as 60 new LNG carriers could result from a bi-lateral summit which took place in Seoul yesterday.

Following the meeting between South Korean President Moon Jae-in and Qatari Emir Sheikh Tamim bin Hamad Al-Thani, South Korea’s presidential office said that Qatar’s energy minister had outlined plans for Doha to order 60 new LNG carriers.

South Korean President Moon Jae In
South Korean President Moon Jae-in.

According to Reuters’ Qatari energy minister, Saad Sherida Al-Kaabi, who also serves as deputy chairman of Qatar Petroleum, said he expects cooperation with experienced Korean shipbuilders on constructing the LNG carriers. No further details were released.

Reuters also said that speaking during a luncheon after the summit, the chief executive of Daewoo Shipbuilding & Marine Engineering said most of the LNG carriers owned by Qatar were built by Korea’s top three shipbuilders and he hoped South Korea would be considered a primary option for building new LNG carriers for Qatar.

Qatar is South Korea’s largest supplier of LNG and the sixth biggest supplier of oil and a crucial country for energy cooperation. In addition, the country is a major overseas market for Korean construction companies.