Qatar willing to place order for construction of 60 LNG carriers in S. Korea

29, Jan. 2019

SEOUL, AJU - Qatar, a major producer of liquefied natural gas (LNG), expressed its willingness to place multiple orders for the construction of about 60 LNG carriers at South Korean shipyards, during a summit between the leaders of the two countries, the presidential office said.

Qatar's Energy Minister Saad al-Kaabi called for a good partnership with South Korea, citing its reputation and experience in shipbuilding, and he said that a Qatar delegation has visited South Korea to discuss the possible introduction of LNG carriers, presidential spokesman Kim Ui-gyeom said in a statement.

The Qatar minister's comment came at talks Monday between South Korean President Moon Jae-in and Qatar Emir Sheikh Tamim bin Hamad Al Thani, the spokesman said. Currently, Qatar has 50 LNG carriers, many of them built by South Korean shipyards.

For his part, Moon suggested the construction of LNG-powered ships would expand LNG consumption, citing new rules imposed by a U.N. maritime safety agency, Kim said.

Compared to conventional fuels, LNG is a proven commercial solution to meet ever-tightening emissions requirements. Government data showed that demand for natural gas would grow to 40.49 million metric tons in 2031 from this year's 36.46 million tons.