Hyundai Globis wins long-term LNGC charter in Qatar

South Korea's Hyundai Glovis Co. announced on Monday that it has won a long-term charter for four liquefied natural gas carriers (LNGC) from QatarEnergy, the state-owned enterprise of Qatar.

QatarEnergy, the world's largest LNG company, plans to increase its annual LNG production from 77 million tons to 110 million tons by 2030.

QatarEnergy has ordered more than 100 LNG carriers from South Korea's big shipbuilders: HD Korea Shipbuilding & Offshore Engineering Co., Samsung Heavy Industries, and Hanwha Ocean Co., with Hyundai Glovis being awarded the charter contract for the vessels scheduled for delivery.

Hyundai Glovis, in consortium with Japan's Kawasaki Kisen Kaisha (K Line), participated in the second round of bids for QatarEnergy's LNG maritime transport and secured contracts for four vessels.

Each of these ships will have a capacity of 174,000 cubic meters, and Hyundai Glovis will operate these vessels starting in 2027 with Japan's K Line. 

Hyundai Glovis has extended its business into the maritime transport of liquefied petroleum gas (LPG) and ammonia. 

Morgan Stanley has forecasted that global demand for LNG will increase by 25% to 50% by 2030.

Write to Jae-Fu Kim at hu@hankyung.com