QatarEnergy partners with Nakilat for LNG fleet expansion

QatarEnergy last week selected Qatar Gas Transport Co. Ltd. (Nakilat) as owner and operator of up to 25 conventional-size (174,000-cu m) LNG carriers. The deal is pursuant to a time charter agreement to be entered into by affiliates of QatarEnergy and Nakilat.

The award is the first in the second batch of long-term time charters under QatarEnergy’s LNG fleet expansion project. QatarEnergy said it anticipates selecting additional bidders as vessel owners and announcing these awards in due course.

QatarEnergy is building an LNG fleet expected to exceed 100 vessels. In 2022, the company signed a series of agreements for the long-term charter and operation of 60 LNG carriers in support of its North Field East and North Field South expansion projects (OGJ Online, Apr. 22, 2019).

The expanded fleet will also support the shipping requirements of QatarEnergy Trading, including volumes to be produced from the 18-million tonne/year Golden Pass LNG plant under development with ExxonMobil Corp., and replace aging components of the existing Qatar LNG fleet. The vessels will be owned 100% by Nakilat, chartered to affiliates of QatarEnergy, and are scheduled for construction at South Korean shipyards.​