Marine Link
Tuesday, February 20, 2024

QatarEnergy Selects Nakilat to Own and Operate 25 LNG Vessels

Maritime Activity Reports, Inc.

February 11, 2024

Source: QatarEnergy

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. QatarEnergy’s future LNG fleet is expected to be in excess of one hundred vessels.

In 2022, QatarEnergy signed a series of TCPs for the long-term charter and operation of 60 LNG ships, concluding the first phase of its historic and unprecedented fleet expansion program, which aims to support and meet future requirements of QatarEnergy’s North Field East and North Field South Expansion Projects. It will also support the shipping requirements of QatarEnergy Trading to serve its global LNG portfolio, including volumes to be produced from the Golden Pass LNG Export Project. In addition, part of the program is intended to cater for replacement requirements of the existing Qatar LNG fleet.

Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and President and CEO of QatarEnergy, said: “We are extremely pleased to announce this partnership with Nakilat, which reflects our confidence in Qatar’s flagship LNG shipping and maritime company. We are equally proud to see this LNG transportation champion compete as part of a global tender and be able to win on a purely competitive basis. This is a testament to Nakilat’s world-class capabilities as well as to the significant contributions of listed companies to the national economy.”

Subscribe for
Maritime Reporter E-News

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week