Nakilat Establishes Joint Venture with Maran
and adds Four New LNG Vessels to Fleet
March 27, 2019
With some four LNG vessels under the
new JV, the number of Nakilat vessels will effectively increase
to 74
Qatar Gas Transport Company Ltd.
(Nakilat) has signed an agreement to establish a new joint
venture “Global Shipping Ltd.” with the Greek firm Maran. Under
the agreement, Nakilat will hold a 60% stake in the JV, while
Maran will own the remaining 40%.
The new company will have four LNG
vessels, which will see the number of Nakilat vessels
effectively increase to 74, approximately 11.5% of the global
LNG fleet in carrying capacity.
Nakilat CEO Abdullah bin Fadhalah
Al-Sulaiti said that this agreement is a step forward for the
company in expanding its fleet with additional capacity to meet
the growing international demand for clean energy. This has
subsequently led to a significant increase in demand for LNG
shipping, which will have a positive effect on charter rates.
Al-Sulaiti explained that the four
new vessels being operated and marketed by Nakilat affirms its
global leadership in operation and marketing, and bears
testament to the company’s robust financial performance and
strategic planning, which comes as part to maximize returns for
shareholders and support Qatar’s industry leading position as
the world’s top LNG exporter.
Al-Sulaiti added that the energy
sector has seen a shift in terms of management and vessel
technology in the industry, which Nakilat has taken into
consideration. Currently under construction in South Korea, the
four modern vessels each have a cargo carrying capacity of
173,400 cubic meters. They are equipped with some of the most
advanced technology in the market today; with two of them being
equipped with ME-GI while the other two with X-DF technology.
Maran Chairman John Angelicoussis
said Nakilat has been one of their strategic partners for many
years and are pleased to be strengthening relationships with
them. He expressed his confidence that, through this new
venture, the two companies will continue to provide first-class
services together for all their LNG customers around the world
and look forward to further collaborations in the future.
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