HD Hyundai Signs $3.9 Billion LNG Carrier Deal With QatarEnergy

This deal involves the construction of 17 liquefied gas (LNG) carriers, making it the largest order ever placed in Korean shipbuilding history.

The announcement was made during Korean President Yoon Suk Yeol’s visit to Qatar.

This significant agreement reflects Qatar’s plans to expand its LNG production and exports.

Their goal is to increase shipment volume from 77 million tons to 126 million tons by 2027.

The collaboration between South Korea and Qatar goes beyond LNG and encompasses sectors such as self-driving vehicles, smart farms, healthcare, and finance.

This partnership heralds an era of growth and innovation through efforts.

During the state visit, multiple deals and memorandums of understanding were signed, amounting to $4.6 billion across sectors, including farms and solar power.

President Yoon’s diplomatic endeavours have been fruitful, as demonstrated by the investments totalling $15.6 billion during his state visit to Saudi Arabia earlier this month.

The agreement solidifies South Korea’s position as a leader in high-value shipbuilding and fosters a partnership between South Korea and Qatar.

Both nations are poised for growth and innovation as they embrace sectors and technological advancements in the future.

References- The Korea Times, KED Global

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