Milaha ups stake in Qatari LNG shipping giant Nakilat

Q-Max LNG carrier Mozah (Image courtesy of Nakilat)

Qatar Navigation (Milaha) has increased its stake in liquefied natural gas (LNG) shipping giant Nakilat.

Milaha said on Wednesday in a statement that its unit, Qatar Shipping Company has entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Nakilat representing 5.9 percent of Nakilat’s share capital.

The deal was conditional on obtaining the consent of the Qatar Financial Markets Authority and the Qatar Central Securities Depositary Company.

Abdulrahman Essa Al-Mannai, President and CEO of Milaha Group, said in the statement that Milaha was holding a 30.3 percent stake in the share capital of Nakilat and has become, as a result of the acquisition, the owner, directly and indirectly, of shares totaling approximately 36.3 percent of Nakilat’s share capital.

Al-Mannai added that Milaha is a founder and major shareholder of Nakilat, and said that, the increase of Milaha’s stake in Nakilat “stems from Nakilat’s success and Milaha’s belief in the vital field of gas transportation.”

Nakilat is the world’s largest LNG shipping company and its fleet compromises of 65 LNG vessels. Nakilat also owns one FSRU and four large LPG carriers.

Share this article

Follow LNG World News

Events>

<< Feb 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 1 2 3

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

2nd CWC Japan LNG & Gas Summit

The highly successful CWC Japan LNG & Gas Summit returns for a second year from 19-20 February 2019 in Tokyo, Japan…

read more >

Global LNG Forum 2019

Global LNG Forum is your opportunity to see what the future of LNG will be like…

read more >

LNG2019

LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association, China Gas Society, The Chinese Association of Refrigeration and China Gas Association.

read more >