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 Today

The Maritime Industry's original and most viewed E-News Service

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


USNS Maury Completes Acceptance Trials

USNS Maury (T-AGS 66) completed Acceptance Trials, November 6, following a week of extensive ship tests and underway events, included testing of major propulsion,

MacGregor Wins Orders for Pusnes Deck Machinery

MacGregor, part of Cargotec, announced it has secured orders for a series of Pusnes deck machinery packages for several shipowners. The Pusnes equipment has been

Two New Crewboats for ISS

Maritime and logistics service provider Inchcape Shipping Services (ISS) has expanded its launch fleet with two more fast crewboats, bringing its total fleet size to 18 vessels.

Tanker Trends

Egypt to Complete East Port Said Side Channel in 2016

Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016,

Concordia Maritime Charters MR Tanker

Concordia Maritime has signed a contract for the charter of an IMO2/3 class MR tanker, the company announced today. The vessel will be chartered jointly with Stena Weco,

Stena Bulk Orders Tankers from China

Stena Bulk has placed an order for three 50,000 dwt IMOIIMAX MR tankers with the Chinese shipyard CSSC Offshore & Marine Engineering (CSSC OME), formerly Guangzhou Shipyard International (GSI),

Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.2532 sec (4 req/sec)