CMES Signs Long-term Charter Agreement with QatarEnergy

Beijing • 29 April 2024 - CMES Shipping, a subsidiary of China Merchants Group, signed a long-term time charter agreement with QatarEnergy in Beijing for the operation of four QC Max-type large LNG vessels, each with a capacity of 271,000 cubic meters. This marks the second collaboration between CMES Shipping and QatarEnergy after signing a long-term charter agreement for six 174,000-cubic-meter large LNG carriers on March 31 in Doha. The QC Max vessel type contracted in this agreement is currently the world's largest LNG carrier, showcasing new productive forces for the high-end, intelligent, and green development of the shipbuilding industry.

Mr Miao Jianmin, Chairman of China Merchants Group, attended the event and delivered a speech. He pointed out that in the name of the QC Max-type large LNG vessel signed in this agreement, "Q" represents Qatar and "C" represents China, symbolizing not only the profound friendship between the two parties but also the expectation for more achievements in future cooperation. As this year marks the 10th anniversary of the establishment of the China-Qatar strategic partnership, the successful signing of this agreement reflects the implementation of the consensus between the leaders of the two countries. It enriches the connotation of the China-Qatar strategic partnership, promotes it to a new level, and further enhances the integrity and security of China's LNG industry supply chain.

His Excellency Mr Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, expressed that the QC Max-type large LNG vessels signed in this agreement will strongly support QatarEnergy's expansion of LNG production capacity in the North Field. He pointed out that QatarEnergy has established a solid foundation of trust and cooperation with Chinese shipowners such as CMES Shipping, and QatarEnergy has full confidence in the professional capabilities of these Chinese shipowners. Looking ahead, Chinese shipowners will ensure that vessel operations comply with the most advanced safety, technology and environmental standards, playing an important role in building a safe and reliable clean energy supply chain for QatarEnergy.

CMES Shipping will continue to adhere to an international outlook and an open mindset, collaborating with QatarEnergy and enterprises throughout the industry chain, to fully leverage its expertise and comprehensive service advantages in the field of oil and gas transportation. This will contribute more actively to building a global low-carbon energy supply system and deepening the friendship between China and Qatar.

China LNG Shipping (Holdings) Limited, a joint venture under China Merchants Group, also signed long-term charter agreements for 2 QC Max-type large LNG carriers with QatarEnergy at this ceremony.