QatarEnergy, the state-owned petroleum company of Qatar, announced February 10 that it had selected Qatar Gas Transport Company Ltd. (Nakilat) to own and operate up to 25 LNG newbuild carriers.

According to Offshore Energy, the carriers, each with a capacity of 45.96 million gallons, will be wholly owned by Nakilat and chartered out to affiliates of QatarEnergy.

The 25 ships are scheduled to be built at South Korean shipyards.

“We are extremely pleased to announce this partnership with Nakilat, which reflects our confidence in Qatar’s flagship LNG shipping and maritime company. We are equally proud to see this LNG transportation champion compete as part of a global tender and be able to win on a purely competitive basis. This is a testament to Nakilat’s world-class capabilities as well as to the significant contributions of listed companies to the national economy,” said Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs for Qatar and CEO of QatarEnergy. “QatarEnergy is moving firmly in building its future LNG fleet, expected to be in excess of one hundred vessels. We look forward to announcing the names of additional successful bidders in the near future.”

The selection comes as part of the second phase of QatarEnergy’s fleet expansion program, which included a $3.9 billion order for 17 LNG carriers placed at HD Hyundai Heavy Industries in September 2023.

In 2022, QatarEnergy signed multiple time-charter parties (TCPs) for the long-term chartering and operation of 60 LNG vessels, concluding the organization’s first part of its fleet expansion program.