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S. Korean Shipbuilders Sign 23.6 Tln Won Deal with Qatar

Write: 2020-06-02 08:56:24Update: 2020-06-02 18:42:29

Photo : YONHAP News

South Korea's three largest shipbuilders have secured a deal worth around 20 billion dollars from Qatar.

Qatar Petroleum(QP), the Middle Eastern country's state-run petroleum company, said in a statement on Monday that it has signed agreements with Daewoo Shipbuilding and Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries.

Under the deal, described by QP as the largest LNG shipbuilding contract in history, the three firms will reserve a major portion of their LNG ship construction capacity through 2027 for the petroleum company.  

QP said it needs to secure more than 100 LNG vessels by 2027 and to that end, it has secured about 60 percent of the global LNG shipbuilding capacity through 2027. 

It said the deal is valued at around 70 billion Qatari rials or 23-point-six trillion won.

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