RasGas and partners to name seven new LNG ships

Monday, 18 February 2008

RasGas said its own officials and executives from Qatar Gas Transport Co.’s joint ventures with Canada’s Teekay Corp. and the Japanese J5 consortium would be present at the events scheduled for February 20 and February 22 at the Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering yards respectively.

The new Q-Flex ships, with capacity of 216,000 cubic metres, will increase the RasGas LNG carrier fleet by almost 50 percent to 20 ships, RasGas said. The Qatar LNG shipping arm, Qatar Gas Transport Co., is known as Nakilat.

Four of the Q-Flex ships that will be chartered by RasGas will be formally named at the SHI yard. These will be owned by Teekay-Nakilat and will deliver LNG in the main to the Far East and US markets.

At a second ceremony at DSME, the other three ships will be formally named by the charter-owners Nakilat and the J5 Japanese consortium and will go into service in the world’s main LNG trading basins.

Nakilat was formed in June 2004 and is a joint stock company owned 50 percent by its founding shareholders, including Qatar Petroleum, and 50 per cent by the public as a result of a share sale to investors in 2005 that saw the company listed on the local stock exchange, the Doha Securities Market.