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Qatargas 4 to Utilise Eight of Nakilat’s LNG Carriers

Source: 7/10/2007, Location: Middle East

Qatar Petroleum transferred to Qatar Liquefied Gas Company Limited (4) the time charter parties for the eight liquefied natural gas (LNG) vessels following the company’s recent formation. The eight vessels will be owned and operated by Qatar Gas Transport Company (Nakilat).

This follows the announcement in February 2007, that Nakilat had signed construction contracts with two Korean Shipyards - Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering Company – for the construction of four “Q-Flex” and four “Q-Max” class vessels. It is the intention that these vessels will be used by Qatargas 4 to transport its liquefied natural gas to market. Initially, time charter parties were signed in February 2007 by Nakilat with Qatar Petroleum until the formation of Qatar Liquefied Gas Company Limited (4) later in the year.

Mr. Faisal M. Al Suwaidi, Chairman and Chief Executive Officer of Qatargas Operating Company Limited said; “The signing today of these agreements is another step forward in the delivery of these world-class projects. These ships will deliver energy to our customers reliably and safely.”

Nakilat’s fleet, which is still under construction, will comprise of some 25 LNG carriers scheduled to come into service over the next four years. The vessels will be used to transport LNG not only for the Qatargas 4 project, but also for Qatargas II (Train 5), Qatargas 3 (Train 6) and RasGas III (Train 7). In addition to the 25 vessels (which Nakilat wholly owns), Nakilat has equity interests (ranging from 20% to 60%) in a further 29 LNG carriers and also has a 50% stake in four LPG vessels.

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Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

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