A Consortium of Korean Shippers Wins Qatar LNG Transportation Contract
For the first time, a consortium formed by Korean shipping companies has successfully won a long-term contract to transport liquefied natural gas (LNG) for a foreign client, the Korean Ministry of Oceans and Fisheries said on June 9.
The Korean consortium, consisting of H-Line Shipping, Pan Ocean, and SK Shipping, won a long-term LNG transportation contract from QatarEnergy, a state-run petroleum company of Qatar.
The ministry said that the consortium signed, as a first step, a lease contract for four LNG carriers for the project. The contract amount was not disclosed at the request of the Qatari government.
The Korean government said the achievement could be made thanks to the technical prowess of Korean shipbuilders, the excellent human resources of Korean shippers, coupled with support from the Korean government and related organizations.
The contract with QatarEnergy is expected to boost the competitiveness of Korean shipping companies in the global LNG transportation market and contribute to the growth of the Korean shipbuilding industry.