QatarEnergy is taking delivery of a new LNG tanker every three weeks, as it builds up a 200-strong fleet which will be the world’s largest. The company has received 38 vessels out of an order book of 128, which CEO Saad Sherida al-Kaabi called the biggest shipbuilding program in the LNG industry’s history.
They are needed to handle the country’s ambitious energy plans, with LNG production set to double to 160 million tons a year by 2030. The next battle is finding customers. Deals were recently signed with Japan and Malaysia, but many more buyers are needed. It is not clear where they will all come from and, as an insurance policy, Doha has been building up its expertise in spot market sales, according to BloombergNEF.