Samsung Heavy Industries said on Feb. 4 that it has signed a memorandum of understanding with Qatar Shipyard Technology Solutions (QSTS) to pursue business cooperation aimed at expanding its global operations in the Middle East. The agreement was signed on the sidelines of the LNG 2026 exhibition currently being held in Doha, Qatar.
QSTS operates a shipyard located in eastern Qatar and is a subsidiary of Nakilat, the world’s largest LNG shipping company. The shipyard has completed repair work on more than 2,000 vessels to date, including LNG carriers.
Under the MOU, the two companies plan to prioritize cooperation in ship retrofitting and aftermarket services. Areas of collaboration will include decarbonization and energy-efficiency technologies, environmentally friendly equipment such as onboard carbon capture systems, and retrofit projects involving digital solutions. The partners will also explore potential cooperation in small-scale offshore projects and the construction of special-purpose vessels.
Samsung Heavy Industries expects that growing demand in the Middle East for environmentally friendly vessel conversions and offshore development projects will create new business opportunities. By leveraging QSTS’s facilities and regional network, the company plans to actively pursue projects in the region and gradually define specific cooperation initiatives.
Meanwhile, senior executives from Samsung Heavy Industries, including Vice Chairman and CEO Choi Sung-an, attended LNG 2026 to hold discussions with global energy companies such as QatarEnergy LNG and ExxonMobil on potential areas of business cooperation.
Namgung Geum-seong, vice president and head of Samsung Heavy Industries’ shipyard operations, said the partnership with QSTS represents an important turning point for the company’s global business expansion. He added that Samsung Heavy Industries will continue to strengthen its competitiveness through proactive overseas business development.
