QatarEnergy inks charter deal with Nakilat for 25 LNG Carriers

QatarEnergy inks time-charter party deal with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25 conventional-size LNG vessels as part of the second ship-owner tender under QatarEnergy’s LNG fleet expansion program.

Shipping Telegraph reported last month that QatarEnergy sealed a deal with Nakilat to own and operate up to 25 LNG carrier newbuildings.

Nakilat will be the 100% owner and operator of up to 25 conventional-size LNG carriers, as announced on Saturday, and time chartered out to affiliates of QatarEnergy.

As reported during the weekend by QatarEnergy, 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 and Marine Engineering also in South Korea.

Each of the 25 vessels will have a capacity of 174,000 cubic meters and will be chartered out by Nakilat to affiliates of QatarEnergy pursuant to the 15-year TCP agreements.

Saad Sherida Al-Kaabi said that 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.

“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,” Al-Kaabi added.