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

Shipbuilding

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Boatbuilding in China

While much of the focus on coverage of the Chinese shipbuilding industry is on big shipbuilding, Maritime Reporter switches gears this month to explore activities in select boatbuilding sectors.

HMS Prince of Wales Bridge Sets Sail

The bridge section of the second Queen Elizabeth Class aircraft carrier set sail today from Glasgow on its first sea voyage to Rosyth.   Upper Block 07 is where

Tanker Trends

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

MISC Says AET Tankers Unit Not for Sale

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers.

Strong Tanker Market Extends Peak Season High Earnings

Tanker earnings for crude oil tankers have climbed to new strong levels in the first quarter of 2015, with averages not seen since 2008, the Baltic and International Maritime Council (BIMCO) reported.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.2128 sec (5 req/sec)