QatarEnergy Inks Nakilat Deal for Operation of 25 LNG Ships
QatarEnergy signed time-charter party (TCP) agreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25, 174,000 cubic meter LNG vessels as part of the second ship-owner tender under QatarEnergy’s historic LNG Fleet Expansion Program.The agreements were signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy and Mr. Abdullah Al Sulaiti, the CEO of Nakilat, in a special ceremony held at QatarEnergy’s headquarters in Doha…
QatarEnergy Selects Nakilat to Own and Operate 25 LNG Vessels
QatarEnergy has selected Qatar Gas Transport Company Limited (Nakilat) to be the owner and operator of up to 25 conventional-size LNG carriers pursuant to Time Charter Parties (TCP).The 25 vessels, each with a capacity of 174,000 cubic meters, will be owned 100% by Nakilat and chartered out to affiliates of QatarEnergy. They are scheduled for construction at South Korean shipyards.This constitutes the first award in the second batch of long-term TCPs under QatarEnergy’s LNG fleet expansion project.
Wikborg Rein & Co: Oil Prices Won't Impact Dual-Fuel LNG Carriers
Joe McGladdery, a partner with the London law offices of Wikborg Rein & Co, says that, while falling oil prices have exerted pressure on the LNG charter markets, the new generation of low-speed, dual-fuel LNG carriers now in service and on order remain an attractive option for owners and operators. “As a result of the oil price collapse, energy companies are reducing capital budgets to protect against falling revenues. Given the investment levels needed to sustain an LNG production project…
Wikborg Rein Recruits LNG Specialist
International law firm Wikborg Rein has recruited Joe McGladdery as a partner in its London office. McGladdery joins from Qatar Gas Transport Company Limited (Nakilat) where he acted as the company's General Counsel and as a board member for a number of its subsidiary companies and joint ventures. He was responsible for developing Nakilat’s legal and insurance department and formed part of the senior management team which oversaw the expansion of the company into the world’s leading operator of LNG ships.
