QatarEnergy, Nakilat collaborate on LNG vessel operations

QatarEnergy, Nakilat collaborate on LNG vessel operations

QatarEnergy has signed time-charter party (TCP) agreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25 conventional-size LNG vessels.

This comes as part of the second ship-owner tender under QatarEnergy’s historic LNG Fleet Expansion Program.

The agreements signed by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy and Abdullah Al Sulaiti, the CEO of Nakilat, in a ceremony held at QatarEnergy’s headquarters in Doha.

The ceremony was attended by senior executives from QatarEnergy, QatarEnergy LNG, and Nakilat.

17 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 cubic metres and will be chartered out by Nakilat to affiliates of QatarEnergy pursuant to the 15-year TCP agreements.

READ: WinGD, Mitsubishi Shipbuilding collaborate on ammonia fuel supply system

Commenting on this occasion, Saad Sherida Al-Kaabi 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.” 

READ: MOL, TLT collaborate for newbuild LNG carrier

“The agreements we signed today play an important role in implementing QatarEnergy’s historic LNG shipping programme, which will cater for our future requirements, as we move forward with the expansion of our LNG production capacity to 142 million tonnes per annum by 2030, ensuring additional cleaner and reliable energy supplies to the world.”

Earlier this year, Swiss marine power company, WinGD, was reportedly expected to acquire the majority of dual-fuel engine orders for LNG carriers under construction in the second phase of QatarEnergy’s newbuilding project.

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