Page 13 - GLNG Week 45 2021

GLNG NEWS IN BRIEF GLNG

capacity of 174,000 cubic metres. The LNGC The Suez Canal registered a record month Commenting on this new shipbuilding
tanks will be fitted with the GTT Mark III in terms of total ship tonnage crossing the order, His Excellency Mr. Saad Sherida Al-
Flex membrane containment system. strategic waterway, hitting 112.1mn tons, up Kaabi, the Minister of State for Energy Affairs,
Deliveries of the vessels will take place 11.4% y/y, in October, according to statements the President and CEO of QatarEnergy, said:
throughout 2024. made by Osama Rabei, chairman of the Suez “We are pleased to take this further step with
GTT, November 08, 2021 Canal Authority. Total toll revenues increased DSME and SHI, which have built 23 Q-Flex
by 12.4% y/y to $551mn driven by the high and 14 Q-Max LNG vessels for Qatar as part
volume of LNG tanker traffic. of our previous LNG expansion project.”
MIDDLE EAST Suez Canal is a key reliable foreign exchange His Excellency Minister Al-Kaabi added:
earner for the Egyptian economy, generating “These orders, and those that will follow in
Suez Canal Authority keeps $5.91bn in revenues in FY2020/2021 ending the near future, constitute a significant part of
our program to expand Qatar’s LNG fleet to
last June, down from $5.8bn in FY2019/2020.
transit fees for vessels QatarEnergy places LNG meet the requirements of our LNG expansion
projects, our existing fleet replacement, as well
transporting LNG steady for ship orders with Korean as our LNG trading arm.”
In concluding his remarks, His Excellency
2022 the Minister said: “I would like to take this
opportunity to thank the management
The Suez Canal Authority has exempted shipyards for its expansion and working teams from DSME, SHI,
vessels transporting LNG from the 6% transit projects QatarEnergy and Qatargas, whose dedicated
fee hike applied across the board on all efforts were instrumental in the realization of
types of cargo passing through the canal in QatarEnergy placed the first batch of LNG this milestone.”
2022. The exemption was in part due to the shipbuilding orders with Korean shipyards The North Field expansion projects
reduction of the rebate applied to LNG ships, consisting of four vessels from Daewoo will increase Qatar’s LNG production
down to 15% from 25% effective November Shipbuilding & Marine Engineering (DSME) capacity from 77 million tons per annum
1. The canal’s management is capitalising on and two vessels from Samsung Heavy to 126 million tons per annum by 2027.
the waterway being the shortest route between Industries (SHI), as part of QatarEnergy’s QatarEnergy’s LNG carrier fleet program is
the main LNG producing facilities in the Gulf historic shipbuilding program to meet its the largest of its kind in the LNG industry and
and high demand countries in Europe to take future LNG carrier requirements. is designed to meet the shipping requirements
a bite out of a five-fold jump in the price of The orders came in the form of of QatarEnergy’s LNG expansion projects, as
natural gas sold on European markets. Eighty- QatarEnergy’s declaration of its ship well as replacing part of Qatar’s existing LNG
four LNG tankers transited the strategic construction options with the two Korean fleet.
waterway in October 2021 compared with 46 shipyards under its Reservation of Shipyard QATARENERGY, November 07, 2021
in October 2020, up 82% year on year. Capacity agreements signed in May 2020.

Week 45 12•November•2021 www. NEWSBASE .com P13