Samsung Records LNG Order

Monday, November 06, 2006
Qatar Gas transport Company (Nakilat) has placed order for another Q-Max LNG carrier, the largest liquefied natural gas tanker in operation, according to a report on www.gulf-times.com. Nakilat signed the shipbuilding contract for Q-Max, with a capacity of 265,000 metric tonnes, with Samsung Heavy Industries, South Korea. With the vessel joining Nakilat service, the company will have a fleet strength will rise to 17.

A Q-Max vessel costs about $300mn. In addition to the fully-owned 17 LNG carriers, Nakilat holds stakes between 30% and 60% in another 28 LNG carriers either delivered or on order to service various Qatari LNG projects. The ship will be powered by twin, slow speed diesel engines and will have full-scale on-board re-liquefaction plants which maximize LNG deliveries. The modification of existing shore side technology to onboard use allow the vessels to use more efficient slow speed diesel engines and depart from the traditional, less efficient, steam turbine.

Nakilat was formed in June 2004 and is a joint stock company owned 50% by its founding shareholders and 50% by the public as a result of an IPO issued early 2005. In addition to owning LNG tankers, DSM-listed Nakilat is involved in a number of other marine related ventures in Qatar. (Source: www.gulf-times.com)

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