Qatar Exchange | Qatar Gas Transport Company (Nakilat) | Nakilat Celebrates Steel Cutting of 17 New LNG Carriers at Korea’s “Hyundai Heavy Industries” Shipyard

Ulsan, South Korea – May 26, 2025: Qatar Gas Transport Company (Nakilat), a global leader in LNG shipping and maritime transportation, celebrated a significant milestone with the steel cutting ceremony marking the commencement of construction of 17 LNG vessels at Hyundai Heavy Industries (HHI) Shipyard in Ulsan, South Korea. The vessels are part of QatarEnergy’s historic LNG fleet expansion project, which caters for future LNG fleet requirements for its LNG expansion projects, as well as the replacement requirements of some of its existing fleet.The ceremony was attended by senior officials from Nakilat, Hyundai Heavy Industries, along with key stakeholders from the maritime sector, who witnessed the official commencement construction of the advanced vessels. Owned by Nakilat, and built with a capacity of 174,000 cubic meters, the new vessels will be chartered to QatarEnergy affiliates under long-term agreements.On this occasion, Mr. Abdullah Al-Sulaiti, Chief Executive Officer of Nakilat, commented:"This is another pivotal milestone in Nakilat’s journey towards achieving our long-term growth strategy as we continue to modernize and expand our fleet. Our collaboration with QatarEnergy and Hyundai Heavy Industries reflects our continued commitment in support of Qatar’s vision in LNG shipping through a world-class fleet and new benchmarks in efficiency, safety, and environmental performance and sustainability. Nakilat remains committed to boosting its position as leader in the global LNG shipping industry."In February 2024, Qatar Gas Transport Company “Nakilat” signed agreements with QatarEnergy to lease and operate 25 conventional size state-of-the-art LNG vessels. This move further strengthens Nakilat’s position as a global leader in LNG shipping, with the vessels being constructed at South Korean shipyards.The new carriers feature advanced designs and innovative technologies, reflecting Nakilat’s commitment to applying the highest standards of safety and operational excellence, while also promoting greater environmental sustainability. This achievement marks a pivotal step in enhancing the company’s capacity to meet the growing demand for LNG transportation and further solidifying its leading position in the industry.