LNG

QatarEnergy, the leading global LNG producer and with three growth projects being developed has signed time-charter party (TCP) agreements with Qatar Gas Transport Co. (Nakilat) for the operation of 25 conventional-size LNG vessels as part of the second shipowner tender under Qatar’s LNG fleet expansion programme.

The agreements were signed in Doha by Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs and President and Chief Executive of QatarEnergy and Abdullah Al-Sulaiti, the CEO of Nakilat.

A statement said that 17 of the 25 LNG vessels are being constructed at the Hyundai Heavy Industries (HHI) shipyard in South Korea, while the remaining eight are being constructed at Hanwha Ocean, formerly Daewoo Shipbuilding and Marine Engineering, also in South Korea.

“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,” said Al-Kaabi.

“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,” he explained.

“The agreements we signed today play an important role in implementing QatarEnergy’s historic LNG shipping programme, which will cater for our future requirements, as we move forward with the expansion of our LNG production capacity to 142 million tonnes per annum by 2030,” Al-Kaabi stated.

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

Liquefaction surge

Qatar announced at the end of February 2024 that it was going ahead with a third huge expansion called the North Field West (NFW) project to take overall output to 142 MTPA by the end of the decade.

The NFW joint venture will add to production expansions already under way with the North Field East (NFE) and North Field South (NFS) LNG projects.

The current NFE ramp-up of QatarEnergy’s liquefaction capacity will take production from 77 MTPA to 110 MTPA by 2027.

The second phase, called the NFS venture, will further increase the LNG output capacity from 110 MTPA to 126 MTPA.

The new NFW project will be developed to take production to 142 MTPA.

Overall the three expansions will put into production a total of eight LNG mega-Trains, each with nameplate capacity of around 8 MTPA and total additional nameplate capacity of just over 64 MTPA.

Qatar Gas Transport Company, known as Nakilat and with a liquefied natural gas fleet of 69 vessels, reported a jump in net profits as the company’s ships satisfied rising global demand.

Qatar Gas Transport Company, known as Nakilat and with a liquefied natural gas LNG fleet of 69 vessels, has posted a 3.6 percent increase in first-quarter 2023 net profits.

Qatar Gas Transport Company, known as Nakilat and with an LNG fleet of 69 vessels, has posted record net profits as demand for deliveries soared around the world.

Oct 26 (LNGJ) - Qatari LNG shipping company Nakilat and the Turkish floating power plant provider, Karpowership, have signed an accord to collaborate in the LNG-to-power market and jointly own and operate floating storage and regasification units (FSRUs). “We are very pleased and excited to sign this agreement with Karpowership,” said Nakilat’s Chief Executive Abdullah Al-Sulaiti. “This fits very well with Nakilat’s long-term growth plan,” he added.

   Karpowership CEO Orhan Remzi Karadeniz said he was very excited to be working with Nakilat. “This will enhance our ability to offer a one-stop shop tailor-made solution to our customers through our integrated business model where we design, develop, engineer and construct our entire assets. FSRUs together with Powerships deliver energy to any country,” stated Karadeniz.

Norwegian shipping company and import project developer Hoegh LNG has signed an agreement with Qatar Gas Transport Co., also known as Nakilat, to explore joint ventures in the floating storage and regasification unit (FSRU) business.