QatarEnergy CEO Saad Al Kaabi announced the signing of charter agreements with Asian shipowners to expand the fleet ahead of LNG expansion. Contracts were signed with CMES LNG Carrier Investment, Shandong Marine Energy, and MISC Berhad for 19 new LNG ships. The North Field expansion aims to double liquefaction capacity by 2030.
Qatar, a major exporter of liquefied natural gas, is delaying shipments to Europe due to the Red Sea crisis, leading to longer travel times. Some European buyers have been notified of delays and postponed deliveries, with the rerouting of shipments impacting global supply. Despite this, Qatar’s LNG exports have not decreased.
Liquefied natural gas suppliers, including Qatar and Russia, are avoiding the Red Sea due to heightened risk of attacks from Houthi militants and warnings of escalation from Doha. The longer routes around Africa are being taken instead of the Suez Canal, reshaping shipping routes and causing industry turmoil.
