Nakilat takes over management of the first floating gas storage unit, bringing the fleet of ships managed by “Nakilat” Company to 27 vessels

21-12-2020


Nakilat has taken over management of the operations of the floating unit for storing and returning liquefied gas to its natural state “Exquisite” from the company “Excelerate” as of 17 December 2020. This is the first floating unit to store and return the liquefied gas to its natural state in the joint venture that was completed in 2018. This is managed internally by “Nakilat”, bringing the size of the fleet of ships managed by “Nakilat” Company to 27 vessels, consisting of 22 vessels for the transport of liquefied natural gas, four vessels for the transport of liquefied petroleum gas, and a floating unit for storing and returning liquefied gas to its natural state.

The capacity of the "Exquisite" floating unit is 150.900 cubic meters and the maximum rate of its ability to convert liquefied gas to its natural state is 690 million cubic feet per day. The ship has so far received more than 330 cargoes of LNG, which is approximately 21 million tons annually since it commenced operations in 2015. The floating storage unit was built in South Korea by Daewoo Shipbuilding & Marine Engineering Corporation and was delivered in 2009 and has been in service since then.

On this occasion, Eng. Abdullah bin Fadhalah Al-Sulaiti, CEO of Nakilat, said: “We are proud of this step represented by the successful transfer of the full management of the first floating unit to store and return the liquefied gas to its natural state to be managed internally at Nakilat despite The current global health conditions and their coincidence with the National Day celebrations. This success was achieved thanks to Nakilat’s efforts in preparing to assume greater responsibilities in ship management over the past years, as it paid attention to enhancing internal capabilities to achieve sustainable growth and advance its vision of being a distinguished and global leader in energy transmission and marine services provision”.

Al-Sulaiti added, “The safe completion of the second phase of the process of transferring the technical and operational management of the fleet, which included 7 ships to transport liquefied natural gas from Shell, and the delivery of the newly built LNG vessel equipped with diesel engines for MEGI gas injection, in addition to receiving the full management of the floating unit for storing and returning the liquefied gas to its natural state "Exquisite" to Nakilat management within less than a year is a clear evidence of our total commitment to maintain our leadership in the field of energy transmission. I would like to express my sincere appreciation to everyone who participated in securing and the success of the ship management process, with dedication, hard work and meticulous preparations from all concerned parties. "

said Steven Kobos, Chairman and CEO of Excelerate “Exquisite is one of the most advanced and widely used floating units in the world today and provides clean energy conversion services imported from Qatar to Pakistan. We are proud to work with a strategic partner of international stature, as Nakilat Company, in achieving this important accomplishment. We have great confidence in Nakilat's capabilities in successfully handling the internal management of the floating unit to ensure the continued safe and reliable delivery of LNG”.
 


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