Nakilat takes full ownership of Q-Flex quartet

Nakilat takes full ownership of Q-Flex quartetImage courtesy of Qatargas

Qatar’s Nakilat, the world’s largest liquefied natural gas (LNG) shipping company, acquired the full ownership of four Q-Flex liquefied natural gas (LNG) carriers from its joint-venture partner, International Seaways.

The acquisition was completed following execution of a sale and purchase agreement for the acquisition of the remaining 49.9 percent ownership interest in these vessels from INSW.

This brings the total number of vessels wholly-owned by Nakilat from 25 to 29 LNG vessels, out of its overall fleet of 74 LNG and liquefied petroleum gas (LPG) vessels, the company said in a statement on Monday.

With a cargo-carrying capacity of 217,000cbm each, the four LNG carriers have been operated and managed in-house by Nakilat’s ship management arm, Nakilat Shipping Qatar Limited (NSQL), since 2014. This is in addition to the other 10 LNG and 4 LPG carriers under NSQL management.

Nakilat CEO, Abdullah Al Sulaiti, said, “these vessels are chartered to our long-standing partner Qatargas, the world’s largest exporter of clean energy. Owning the vessels that we manage allows Nakilat to consolidate its fleet, provides greater operational flexibility and optimization of resources.”

Nakilat’s LNG shipping fleet is among the largest in the world, comprising of 14 Q-Max, 31 Q-Flex and 24 conventional vessels, including four newbuilds. The company also owns 4 liquefied petroleum gas (LPG) and one floating storage regasification unit (FSRU) as part of its fleet.

Share this article

Follow LNG World News

Posted on October 7, 2019 with tags .

Events>

<< Jan 2020 >>
MTWTFSS
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 29 30 31 1 2

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >