QatarEnergy, Nakilat enter long-term agreement to charter, operate nine QC-Max class LNG vessels

Doha, Qatar: QatarEnergy signed a long term agreement with Qatar Gas Transport Company Limited (Nakilat) pursuant to which Nakilat will own and operat...

Doha, Qatar: QatarEnergy signed a long-term agreement with Qatar Gas Transport Company Limited (Nakilat) pursuant to which Nakilat will own and operate nine “QC-Max” class LNG vessels, the largest LNG vessels ever built.

The agreement was signed yesterday by H E Saad Sherida Al Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy and Abdullah Al Sulaiti, the CEO of Nakilat, in a special ceremony held at QatarEnergy’s headquarters in Doha, and attended by senior executives from QatarEnergy, QatarEnergy LNG, and Nakilat.

The nine QC-Max vessels, with a capacity of 271,000 cubic meters each, constitute half of the 18 advanced QC-Max class LNG vessels that will be constructed at China’s Hudong-Zhonghua Shipyard. To date, QatarEnergy’s fleet expansion program encompassed the execution of shipbuilding contracts and time charter agreements for 104 conventional LNG vessels and 18 QC-Max class LNG vessels, for a total of 122 ultra-modern vessels, with the first new ship expected to be delivered by the end of the third quarter of this year.

Commenting on this occasion, His Excellency Saad Sherida Al Kaabi said: “We are very proud to have Qatar’s flagship LNG shipping and maritime champion join a list of world-class shipowners operating our state-of-the-art QC-Max LNG vessels - the largest ever built. There is no doubt that this is another testament to Nakilat’s significant capabilities.”