QatarEnergy and Nakilat sign a long-term agreement to charter and operate nine QC-Max LNG vessels

Doha, Qatar - May 08, 2024

Qatar Gas Transport Company Limited (Nakilat) announces the signing of a long-term agreement to charter and operate nine QC-Max class LNG vessels, as part of QatarEnergy's program to expand its fleet of LNG carriers.

The agreement was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of QatarEnergy, and Mr. Abdullah bin Fadhalah Al-Sulaiti, CEO of Nakilat during a special signing ceremony at QatarEnergy's headquarters today.

Commenting on this occasion, H.E. Minister Al-Kaabi said:

"We are very proud to have Qatar's flagship LNG shipping and maritime champion join a list of world-class shipowners to operate 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."

On his part, Mr. Al-Sulaiti, CEO of Nakilat, said:

"We are proud of our partnership, and of being selected, once again, by QatarEnergy as a partner in its historic fleet expansion project. Through this partnership, we aim to enhance value in the LNG transportaion market as active enablers in meeting the requirements of the North Field expansion projects. We are fully committed to adopting the latest technologies and expertise to ensure that these vessels are operated according to the highest standards of safety, environmental sustainability, and reliability."

These nine (QC-Max) vessels, each with a capacity of 271,000 cubic meters, will be 100% owned and operated by Nakilat and chartered to affiliates of QatarEnergy.

The vessels will be built in China at Hudong-Zhonghua shipyards, reflecting top-notch craftsmanship and technology. They are part of QatarEnergy's historic program to support its LNG production expansion capacity from the North Field.

This signing follows QatarEnergy's recent agreements with Nakilat for the ownership and operation of 25 conventional-size LNG vessels.

The current agreement includes the charter and operation of nine additional QC-Max vessels, thereby increasing the total number of LNG vessels secured by Nakilat to 34.

Image by Nakilat

Nakilat - press release