SEOUL, February 04 (AJP) - Samsung Heavy Industries said Wednesday it has signed sign an agreement with Qatar Shipyard Technology Solutions (QSTS), a state-owned shipyard operator, to explore joint projects involving eco-friendly technologies.
QSTS, located in eastern Qatar, is a subsidiary of Nakilat, the country’s state-owned shipping company and the world’s largest operator of liquefied natural gas (LNG) carriers. The yard has completed repair work on roughly 2,000 vessels, including LNG carriers, Samsung Heavy said.
Under the agreement, the two companies will initially cooperate in ship retrofits and after-market services. They will also explore joint projects involving eco-friendly technologies, including decarbonization and energy-saving systems, onboard carbon-capture equipment, small offshore projects and newbuilds of specialized vessels.
“Business cooperation with QSTS will be an important milestone in expanding our global operations,” Namgung Geumseong, vice president and head of Samsung Heavy’s shipyard business, said in a press release. “We aim to further strengthen our competitiveness through active global partnerships.”
The MOU was signed on the sidelines of LNG 2026, an industry conference currently being held in Doha. Samsung Heavy Chief Executive Choi Seong-an and other executives attending the event also held discussions on potential cooperation with global energy companies, including Qatar LNG and ExxonMobil.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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