– SHI signed business cooperation MoU with Qatar`s state-owned shipyard to pursue retrofit and AfterMarket(AM) services

– SHI participated in `LNG 2026` in Qatar, holding cooperation talks with global energy companies

Samsung Heavy Industries (SHI) announced on the 4th that it has signed a business cooperation Memorandum of Understanding (MoU) with Qatar Shipyard Technology Solutions (QSTS), a Qatari state-owned shipyard, at LNG 2026 currently being held in Doha, as part of its efforts to expand its global business into the Middle East.

Located in eastern Qatar, QSTS is a subsidiary of Nakilat, the world’s largest LNG shipping company, and has a track record of repairing more than 2,000 vessels, including LNG carriers.

Through the MoU, SHI and QSTS will initially pursue cooperation in retrofit and AfterMarket (AM) services.

SHI and QSTS plan to collaborate on projects involving developing eco-friendly equipment such as decarbonization solutions, energy-saving systems, and onboard carbon capture systems; digital solution upgrades; as well as to review cooperation in small offshore projects and the construction of specialized-purpose vessels.

Amid growing demand in the Middle East for the conversion to eco-friendly vessels and expanding offshore development projects, SHI expects to actively respond to regional business opportunities by leveraging QSTS’s facilities and network. The company plans to gradually define specific business items going forward.

Meanwhile, SHI executives, including Choi Sung-an, Vice Chairman and CEO of Samsung Heavy Industries, attended LNG 2026 and held discussions on potential cooperation with global energy companies such as QatarEnergy LNG and ExxonMobil.

“Samsung Heavy Industries` business cooperation with QSTS will serve as an important milestone in Samsung Heavy Industries` global business expansion,” stated Geum-sung Namgoong, Executive Vice president of SHI. “Through proactive global engagement, we will further strengthen our business competitiveness.”

※ About LNG 2026 (International LNG conference and exhibition)

LNG 2026 is one of the world’s three major LNG exhibitions, along with Gastech and the World Gas Conference (WGC). This year’s event is hosted by QatarEnergy and was held in Doha from the 2nd to the 5th.