Qatar Orders $3b of LNG Tankers

Monday, September 25, 2006
According to Trade Arabia, Qatar Gas Transport Co ordered $3b of natural LNG from South Korean companies including Hyundai Heavy Industries as the state prepares to triple exports of the fuel. Qatar Gas, the second-largest energy company on the Morgan Stanley Capital International Gulf Countries Index, ordered the 10 tankers for delivery in 2009, Muhammad Ghannam, the company's managing director said in Doha.

Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries are the other companies that won the order. Qatar Gas, or Nakilat as it is also known, will lease the vessels for 25 years. Qatar, the world's third-largest holder of natural gas reserves, is developing projects to triple exports of the fuel to 77 million tonnes a year as early as 2010, from a projected 25 million tonnes this year. That will make it the largest producer of the fuel, for which global demand is growing because it is cleaner to burn in power stations than oil or coal. Nakilat, in which 50 per cent of shares are traded on the Doha Securities Market, plans almost to double its fleet to 60 by 2009, from 28 now. With the latest agreement, it has 16 vessels on order.

Nakilat will use the 10 tankers to move LNG from the country's Qatargas 3 project, which is owned by Qatar Petroleum, ConocoPhillips and Mitsui.

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Imabari to Build 20,000TEU Containerships

Imabari Shipbuilding Co., Ltd. announced it has secured newbuild orders with the cooperation of Marubeni Corporation for 11 units of 20,000TEU Ultra-Large Container Carriers,

SSI Launches ShipConstructor 2015 R2.1

SSI has today released ShipConstructor 2015 R2.1 software.   The software release comes in response to emerging ship design, engineering and building trends as

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

Tanker Trends

Tohoku Electric's LNG Buy Sets Asian Spot Level

Japanese utility Tohoku Electric has purchased an LNG cargo for delivery in the third week of March at a price in the low $7 per million British thermal unit (mmBtu) range,

Yemen Lifts Force Majeure on LNG Deliveries

Yemen on Friday lifted force majeure on liquefied natural gas (LNG) deliveries from its Balhaf plant, trading sources with knowledge of the matter said. Reuters reported last week that the 6.

German Shipowner Worst Global Dumper -NSP

German shipowner Ernst Komrowski topped the list of the worst global dumpers with 14 end-of-life vessels sold to the beaches, according to a press release from NGO Ship-breaking Platform (NSP).

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Port Authority Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1164 sec (9 req/sec)