Qatar Petroleum (QP) announced the largest order for new tankers of its existence on Monday. Qatar's state oil company ordered over 100 liquefied natural gas (LNG) tankers from three major South Korean shipbuilders, QP reports Monday. Orders amount to more than 17 billion euros.

QP does business with Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries. The more than a hundred LNG tankers have to leave the shipyards between now and the end of 2027.

Qatar wants to increase the production of LNG in the coming years by more than 60 percent to 126 million tons per year. The Gulf State was the second largest producer of LNG in the world after Australia in 2019.