LNG Vessel to Join Qatargas Fleet
Qatargas announced the naming of the Q-Flex LNG vessel Tembek at a ceremony held at Samsung Heavy Industries shipbuilding yard in Geoje Island, South Korea. The Tembek will be used to ship LNG produced by Qatargas 2's Train 4 to customers in Europe. It is one of 14 ships that are being built in Korea to service Qatargas Trains 4 and 5. The LNG vessel is owned through a joint venture between Qatargas Transport Company (Nakilat) and Overseas Shipholding Group (OSG), from which Qatargas will charter the vessel. Naomi Campbell officially named the ship the fourth of 45 large LNG ships to be delivered for Qatar at the event presided over by Ahmed Al Khulaifi, Qatargas Chief Operating Officer - Commercial & Shipping.
OSG Names Largest LNG
Overseas Shipholding Group, Inc. has named the LNG Carrier Al Gattara, marking a new generation of Q-Flex Liquefied Natural Gas (LNG) carriers, said to be the world’s safest, most advanced and largest ships to transport this critical energy source. This vessel is the first in a series of four sister ships to be delivered to OSG Nakilat, the joint venture between OSG and Qatargas Transport Company (Nakilat). The ship’s sponsor, Mrs. Cathy Houston, wife of Dennis Houston, Executive Vice President, ExxonMobil Refining and Supply Company, will officially name the Al Gattara in a ceremony today at the Hyundai Heavy Industries shipyard. The second ship in the new fleet, the Tembek, constructed by Samsung Heavy Industries in Geoje Island, South Korea, will be named on Tuesday, September 11. Mrs.
Qatar's Nakilat to Order LNG Vessels
According to reports, Qatargas Transport Company (Nakilat) is expected to order a further 9 to 11 LNG vessels for RasGas-3 and Qatargas-4 this year. At the beginning, Nakilat activities were primarily focused on securing partial ownership of between 30 and 60 percent of the original 29 LNG vessels ordered. This was equal to approximately 54 per cent ownership of the first tranche of ships. This change in strategy, he said, required Nakilat to fund the additional construction costs of these 100 percent owned ships in order to meet the Qatargas and RasGas ship delivery schedules. In order to meet its payment obligations to the Korean shipbuilding yards Nakilat is obligated to cash call the remaining equity contribution from its shareholders this year.
