Samsung Heavy Industries said on the 4th that it signed a business cooperation memorandum of understanding (MOU) with Qatar Shipyard Technology Solutions (QSTS), a state-owned shipyard in Qatar, at LNG 2026, one of the world's three largest liquefied natural gas (LNG) conferences and exhibitions, held in Doha, the capital of Qatar.
Located in eastern Qatar, QSTS is a subsidiary of Nakilat, the state-owned carrier that is the world's largest LNG shipping company, and is a shipyard with a track record of repairing some 2,000 vessels, including LNG carriers.
Through this MOU, Samsung Heavy Industries agreed to prioritize cooperation with QSTS in ship retrofitting and the aftermarket (AM).
The two companies plan to cooperate on retrofit projects in eco-friendly equipment such as decarbonization, energy reduction, and onboard carbon capture systems, as well as in digital solutions, and to review cooperation on newbuilds for small offshore projects and special-purpose vessels.
Samsung Heavy Industries said it expects to actively respond to business in the Middle East by leveraging QSTS's facilities and network, in line with the trend of rising demand for conversions to eco-friendly ships and the expansion of offshore development projects in Qatar and across the Middle East. It plans to finalize specific business items going forward.
Choi Sung-an, vice chairman and CEO of Samsung Heavy Industries, and other executives attended this LNG 2026 and discussed business cooperation with global energy corporations such as QatarEnergy LNG and ExxonMobil.
Namgung Geum-seong, shipyard head (executive vice president) at Samsung Heavy Industries, said, "Business cooperation with QSTS will be an important milestone for Samsung Heavy Industries' global expansion," adding, "We will further strengthen our business competitiveness through proactive global operations."