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Qatar Gas Transport Company Limited (Nakilat) has signed long-term charter party agreements for 25 conventional LNG carriers with QatarEnergy. This is a key part of QatarEnergy’s ongoing fleet expansion program which is intended to cater for the LNG transportation requirements of the company’s LNG expansion projects as well as its fleet renewal requirements.
Seventeen of the 25 LNG vessels are being constructed at the Hyundai Heavy Industries (HHI) shipyards in South Korea, while the remaining eight are being constructed at Hanwha Ocean – formerly Daewoo Shipbuilding & Marine Engineering – also in South Korea.
Each of the 25 vessels will have a capacity of 174,000 m3 and will be chartered out by Nakilat to affiliates of QatarEnergy pursuant to the 15-year time charter agreements.
His Excellency Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, and President and CEO of QatarEnergy, said: “These agreements firm up last month’s selection of Nakilat as the owner and operator of up to 25 conventional-size LNG carriers, underscoring our continued confidence in Qatar’s flagship LNG shipping and maritime company. This is a testament to Nakilat’s world-class capabilities as well as to the significant contributions of Qatari listed companies to our country’s national economy.”
He added: “The agreements we signed today play an important role in implementing QatarEnergy’s historic LNG shipping program, which will cater for our future requirements, as we move forward with the expansion of our LNG production capacity to 142 million tons per annum by 2030, ensuring additional cleaner and reliable energy supplies to the world.”
