3/31/2024
(P&GJ) — QatarEnergy has entered time-charter party (TCP) agreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25 conventional-size LNG vessels. This move marks a significant step in QatarEnergy’s historic LNG Fleet Expansion Program.
The agreements were officially signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and President and CEO of QatarEnergy, along with Mr. Abdullah Al Sulaiti, CEO of Nakilat, in a ceremony at QatarEnergy’s headquarters in Doha. Senior executives from QatarEnergy, QatarEnergy LNG, and Nakilat attended the event.
Seventeen of the LNG vessels are under construction 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.
In his remarks, Minister Al-Kaabi emphasized the confidence in Nakilat’s capabilities and its crucial role in Qatar’s LNG shipping industry. He highlighted the significance of these agreements in supporting QatarEnergy’s LNG production expansion plans, which aim to reach 142 million tons per annum by 2030.
Each vessel will have a capacity of 174,000 cubic meters and will be chartered out by Nakilat to affiliates of QatarEnergy under 15-year TCP agreements.
