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Qatar Gas Transport Company News

25 Mar 2024

QatarEnergy Inks Nakilat Deal for Operation of 25 LNG Ships

Image courtesy QatarEnergy

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…

24 Mar 2024

QatarEnergy Charters 25 Nakilat LNG Carriers

Source: Nakilat

QatarEnergy signed time-charter party (TCP) agreements with Qatar Gas Transport Company (Nakilat) for the operation of 25 conventional-size LNG vessels as part of the second shipowner tender under QatarEnergy’s LNG fleet expansion program.Seventeen of the 25 LNG vessels are being built at the Hyundai Heavy Industries (HHI) shipyards in South Korea, while the remaining eight are being built at Hanwha Ocean, also in South Korea.These agreements firm up last month’s selection of…

11 Feb 2024

QatarEnergy Selects Nakilat to Own and Operate 25 LNG Vessels

Source: QatarEnergy

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.

17 Feb 2020

Nakilat Posts Record Net Profit of $270M

Doha-listed LNG and LPG carrier owner Qatar Gas Transport Company Ltd (Nakilat) reported a consolidated net profit of QR1,003m (USD $270 million)  in 2019, an increase of 12.4 percent, as compared to QR892m posted for the same period in 2018.The 2019 net profit is Nakilat’s highest profit recorded since its inception, said the Qatari shipping and maritime company.Nakilat's robust financial performance is primarily attributed to operational excellence in the management of its Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) vessels, as well as realizing additional revenues from the two additional LNG carriers, one Floating…

20 Oct 2019

Nakilat Posts 10.5% Surge in 9 Month's Net Profit

Qatari shipping and maritime company Qatar Gas Transport Company (Nakilat) reported a 10.5% year-on-year increase in net profit to QR728mn (USD 200 million) in the first nine months of this year.Nakilat, which has the largest LNG shipping fleet in the world, comprising 69 vessels, said in a press note that its positive financial performance can be primarily attributed to better operational performance in managing its liquefied natural gas (LNG) and liquefied petroleum gas (LPG) vessels.The company also realized higher revenues on additional income from the acquisition of two additional LNG carriers and one Floating Storage Regasification Unit (FSRU) in 2018…

22 Apr 2019

Nakilat Reports 9% Profit Jump in Q1

Qatar Gas Transport Company (Nakilat), a shipping and maritime company with the world's largest LNG shipping fleet, reported a 9 percent increase in profit for the first quarter of this year ended March 31, 2019.Nakilat reported a net profit of 236 million Qatari Riyals ($64.8 million) which compares to 217 million Qatari Riyals reported in the corresponding quarter in 2018."This increase was mainly due to the acquisitions of two Liquefied Natural Gas (LNG) carriers and one Floating Storage Regasification Unit (FSRU) in 2018, and higher volume of projects at Nakilat’s ship repair facility. The achievement of positive results across its operations is also attributed to the rationalization of operational expenses and enhanced operational efficiency…

20 Mar 2019

Nakilat Buoyant on LNG Shipping

Qatari marine company Nakilat said that it continued to push boundaries and successfully implemented several long-term growth strategies by strengthening its international presence and diversifying its fleet towards maintaining global leadership in liquefied natural gas (LNG) transportation.Nakilat is a shipping and maritime company with the world's largest LNG shipping fleet.Dr. Mohammed Bin Saleh Al Sada, the Chairman of Nakilat’s Board of Director, said that Qatar Gas Transport Company's (Nakilat) expanded its fleet with the addition of two liquefied natural gas (LNG) carriers and acquired a major stake in its first floating storage regasification unit (FSRU)."This opened a new horizon and business avenue for Nakilat…

08 Feb 2019

Milaha Ups Stake in Nakilat

Qatar-based maritime transport and logistics company  Qatar Navigation (Milaha) has increased the company’s stake in compatriot liquefied natural gas (LNG) shipping giant Nakilat.Qatar Shipping Company, a subsidiary of Milaha, has entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Qatar Gas Transport Company Ltd (Nakilat) representing 5.9% of Nakilat’s share capital.The Sale and Purchase Agreement was conditional on obtaining the consent of the Qatar Financial Markets Authority and the Qatar Central Securities Depositary Company.Abdulrahman Essa Al-Mannai, President and CEO of Milaha Group, announced that Milaha was holding…

29 Oct 2018

Nakilat Profit Jumps by 8.5%

Qatar Gas Transport Company (Nakilat)  has reported about 8.5% year-on-year increase in net profit to QR659mn (USD 181 million) during January-September this year."Nakilat’s stronger performance is a result of the company’s successful expansion, which is attributed to its strategic long-term plan to diversify and seek business opportunities with minimal risk, as well as through effective cost optimisation initiatives across its integrated operations," said a press release from the Qatari marine company providing the essential transportation link in the State of Qatar’s LNG supply chain.This has been achieved through the acquisition of two additional jointly-owned liquefied natural gas (LNG) carriers and a major stake in the first floating storage regasification unit (FSRU)…

25 Feb 2018

Nakilat Posts 2017 Profit of $233

Qatar-based Nakilat (Qatar Gas Transport Company) has announced its financial results for the year ended December 31, 2017, with a net profit of QR 847 million (about USD 233 million). The earnings per share attained in 2017 was QR 1.53. During the year, Nakilat successfully deployed the company’s strategic plans towards maintaining its global leadership in LNG transportation and the integral role it plays in Qatar’s LNG supply chain. Despite the challenges facing the energy and maritime industry, the company managed to achieve positive results across its operations that exceeded planned expectations in 2017 through enhanced operational efficiency and a reduction in general, administrative expenses and finance costs.

22 Oct 2017

Nakilat Net Profit Down for the Last Nine Month

Qatar Gas Transport Company (Nakilat), the largest LNG ship owner in the world, concluded its financial results for the nine-month period ended 30 September 2017, with a net profit of QR 607 million compared to QR 749 million of the same period last year in 2016. The lower profit was mainly attributed to the effect of changing the estimated scrap value of vessels in accordance with applicable International Accounting Standards and the lower number of charter hire days in the current period compared to the same period last year (2016 was a leap year). On the other hand, the company effectively maintained its operating expenses and reduced its finance costs due to timely repayment of the periodic loan instalments.

25 Jul 2017

Nakilat Ends H12017 with $112 Mln Net Profit

Qatar Gas Transport Company (known as “Nakilat”, which means carriers in Arabic) recorded its financial results for the first half of the year ended June 30, 2017 with a net profit of QR 409 million ($112 million) compared to QR 501 million ($137 million) of the same period last year in 2016. The lower profit was mainly attributed to the lower number of charter hire days in the current period compared to the same period last year (2016 was a leap year), the effect of changing the estimated scrap value of vessels in accordance with applicable International Accounting Standards and the reduced operations of a few joint ventures. On the other hand, the company’s timely repayment of the periodic loan instalments resulted in reduced finance costs. Nakilat Managing Director Eng.

19 Jul 2017

Qatar Seeks to Open New LNG Markets with Floating Terminals

Qatar Gas Transport Company and Norwegian shipping business Hoegh LNG have embarked on a joint project to open new markets for Qatar to sell its liquefied natural gas (LNG) via floating import terminals. Hoegh LNG, a developer of floating LNG import terminals, expects to start work on the import terminal project in a matter of months, CEO Sveinung Stohle told Reuters. Stohle said Hoegh LNG and Qatar Gas Transport Company, which operates a large fleet of LNG tankers, are evaluating countries in which they could establish a floating terminal, naming South America and south-east Asia as attractive prospects. Top LNG producer Qatar, which is in the midst of a diplomatic crisis that erupted when Saudi Arabia and other Arab states cut diplomatic and transport links with Doha in early June…

07 Jul 2017

Nakilat Takes LNG Carrier In-House

Qatar Gas Transport Company (Nakilat)  has assumed full ship management and operations of Q-Flex LNG carrier Al Sheehaniya from STASCo (Shell Trading and Shipping Company) with effect from 6 July 2017, as part of the planned and phased transition announced on 19th October 2016. With a cargo carrying capacity of 210,200 cubic meters, Al Sheehaniya is wholly-owned by Nakilat and chartered by Qatargas. The vessel built in South Korea by Daewoo Shipbuilding & Marine Engineering was delivered in February 2009 and has been in service ever since. Al Sheehaniya is the ninth wholly-owned LNG vessel that will come under the management of Nakilat Shipping Qatar (NSQL), bringing the total number of vessels managed by NSQL to 17, comprising of 13 LNG and 4 LPG carriers.

26 Nov 2015

Nakilat Damen Shipyards Qatar JV is 5

On 23 November 2015, Nakilat Damen Shipyards Qatar celebrated its first 5 years of operation. With 40 vessels delivered or under construction, the yard has proven its capability to support Qatar’s national strategy for economic diversification. Damen Chief Commercial Officer Arnout Damen. NDSQ was established in 2010 as a joint venture between Qatar Gas Transport Company Ltd. (Nakilat) and Damen Shipyards Group. Located in the northeastern corner of Qatar, the yard is ideally positioned in the middle of the Arabian Gulf and able to build ships up to 170 metres in length in steel, aluminium and composites. By building these vessels in Qatar, Mr Damen says that NDSQ is supporting the economic diversification and development strategy in the Qatar National Vision 2030.

23 Feb 2015

Wikborg Rein & Co: Oil Prices Won't Impact Dual-Fuel LNG Carriers

   Joe McGladdery (Photo courtesy of Wikborg Rein & Co)

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…

20 Nov 2014

DNV GL, N-KOM to Partner on LNG Initiatives

N-KOM’s CEO Chandru Rajwani and Dr Henrik O. Madsen, DNV GL’s Group President and Chief Executive Officer, signed the memorandum. (Photo: Laurence Tissot)

A memorandum of understanding (MOU) was signed today between DNV GL and Qatar’s premier shipyard Nakilat-Keppel Offshore & Marine (N-KOM) to promote liquefied natural gas (LNG) as fuel within the maritime and offshore industry. The signing ceremony took place during DNV GL’s 150th anniversary celebrations in Dubai, at which N-KOM’s CEO Chandru Rajwani and Dr. Henrik Madsen, DNV GL’s Group President and Chief Executive Officer, signed the memorandum. The MOU will further strengthen the position of N-KOM…

17 Sep 2014

Fifth Jackup Contract for Keppel from Gulf Drilling

Keppel FELS Limited, a wholly owned subsidiary of Keppel Offshore & Marine, has secured a contract from Gulf Drilling International Ltd. of Qatar to build a repeat high-specification KFELS B Class jackup rig worth US$227 million. As part of the contract, GDI has options for two more KFELS B Class rigs for deliveries in 2017. On the new jackup, to be named Halul, Keppel FELS has already begun preparations for its scheduled delivery in 1Q 2016 during the course of discussions with GDI. Upon delivery, Halul will be chartered to Qatar Petroleum for five years. Halul is GDI's fifth KFELS B Class jackup rig ordered from Keppel. The fourth rig, Dukhan, was recently delivered last month.

28 May 2013

Alewijnse Establishes Operations in Qatar

Photo: Alewijnse

Alewijnse Marine Systems, a systems integrator in the commercial, naval and superyacht sectors, announced the formation of Alewijnse Middle East LLC, the latest stage in its strategy to establish operations in high growth developing markets. Based in Qatar, Alewijnse Middle East (AME) is a partnership between Alewijnse Marine Galati, headquartered in Galati, Romania, and Sora Marine Services, a highly regarded Qatari company with extensive experience in providing maritime services.

06 Aug 2014

Selling the World's Priciest Ship...

Online ship intelligence and information service VesselValue.com has launched a series highlighting the world's most expensive active vessels, and this week focuses on the costliest of all: QMAX liquefied natural gas (LNG) carrier Zarga, which prices in at a whopping $221.8 million. According to VesselValue, Zarga’s sticker price is equal to 1.5 of Real Madrid footballer Gareth Bale’s $145 million transfer fee, 13 12-carat Pink Diamonds at a value of $17 million each, or 49 Lamborghini Veneno Roadsters which cost $4.5 million apiece.

21 Aug 2014

Keppel Delivers 4th Jackup Rig to Qatar

Keppel FELS Limited (Keppel FELS) has delivered its fourth jackup rig, "Dukhan", to Gulf Drilling International Ltd. q.s.c. (GDI) of Qatar nine days ahead of schedule, on budget and with a perfect safety record. “Dukhan” is a high specification rig built to Keppel’s proprietary KFELS B Class design. Keppel FELS has previously delivered three similar jackup rigs to GDI; "Al Khor", "Al Zubarah" and "Les-hat". Mr Wong Kok Seng Managing Director (Offshore) of Keppel Offshore & Marine (Keppel O&M) and Keppel FELS said, “We are pleased to deliver another major project to GDI early, on budget and to their highest satisfaction. It is a result of the strong partnership we have built with GDI over the years on a variety of projects.

09 Sep 2014

Five Minutes with N-KOM CEO Abu Bakar Mohd Nor

Abu Bakar Mohd Nor

In the Middle East there has been a level of shipbuilding infrastructure investment unmatched, with companies such as N-KOM in Qatar among the leaders. N-KOM CEO Abu Bakar Mohd Nor shares his insights on growth & opportunity in the Middle East. When you look at the expanse of your operations, what do you count as the primary strength of your company? One of the most important strengths N-KOM has apart from its strong parentage is being strategically located in Qatar, the world’s leading exporter of liquefied natural gas (LNG) and at the heart of the Arabian Gulf…

08 Oct 2012

The Middle East’s LNG FIX

While the global shipbuilding and repair market struggles in a tough economy, business is generally buoyant in the Middle East, with several new shipyards set to serve expanding offshore oil and gas transport operations. Maritime Reporter recently spent some time with Abu Bakar Bin Mohd Nor, CEO, Nakilat - Keppel Offshore and Marine Ltd., Ras Lafan, Qatar, to discuss the new shipyard’s approach to winning business in a tight environment. When you look at the expanse of your operations, what do you count as the primary strength of your company?