QatarEnergy, Nakilat Ink Long-Term Agreements to Lease, Operate 25 Gas Tankers

QatarEnergy, Nakilat Ink Long-Term Agreements to Lease, Operate 25 Gas Tankers By Fathimath Nasli - March 25, 2024
QatarEnergy and Nakilat Ink Long Term Agreements to Lease and Operate 25 Gas Tankers

The Signing Ceremony of Long Term Charter Party agreements for 25 conventional-size LNG vessels between QatarEnergy and Nakilat

QatarEnergy signed time-charter party (TCP) agreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25 conventional-size LNG vessels as part of the second ship-owner tender under QatarEnergys historic LNG Fleet Expansion Program.

The agreements were signed by HE Minister of State for Energy Affairs, the President and CEO of QatarEnergy Eng. Saad bin Sherida Al Kaabi, and CEO of Nakilat Eng. Abdullah Al Sulaiti, in a special ceremony held at QatarEnergys headquarters in Doha.

Commenting on this occasion, HE Eng. Saad bin Sherida Al Kaabi said: "These agreements firm up last months selection of Nakilat as the owner and operator of up to 25 conventional-size LNG carriers, underscoring our continued confidence in Qatars flagship LNG shipping and maritime company. This is a testament to Nakilats world-class capabilities as well as to the significant contributions of Qatari listed companies to our countrys national economy." For his part, Eng. Abdullah Al Sulaiti said he is proud of partnering with QatarEnergy to provide added value in LNG transportation market as one of the active partners in meeting the requirements of expanding the North Field LNG, affirming the commitment to adopting the cutting-edge technologies and expert to ensure safe and reliable transportation of LNG from Qatar to the world.

On Feb. 11, 2024, QatarEnergy announced that it had co-opted Nakilat to be the owner and operator of vessels under long-term contracts. LNG carriers, each with a capacity of 174,000 cubic meters, will be 100 percent owned by Nakilat, and will be leased to companies affiliated with QatarEnergy.

LNG carriers are poised to be built in shipyards in South Korea as part of Qatar Energy's historic fleet expansion program of LNG carriers, which primarily aims to meet the requirements of LNG expansion projects and increase its fleet of tankers.

Source: QNA

By Fathimath Nasli - March 25, 2024

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