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Thursday, June 20, 2024

QatarEnergy Inks Nakilat Deal for Operation of 25 LNG Ships

Maritime Activity Reports, Inc.

March 25, 2024

Image courtesy QatarEnergy

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, and attended by senior executives from QatarEnergy, QatarEnergy LNG, and Nakilat.

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 (formerly Daewoo Shipbuilding & Marine Engineering) also in South Korea. Each of the 25 vessels will be chartered out by Nakilat to affiliates of QatarEnergy pursuant to the 15-year TCP agreements.