Nakilat expands LNG fleet

April 23, 2014 - 1:05:04 am
(From left) Bassel Gamal, QIB Group CEO , Eng. Abdullah Fadhalah Al Sulaiti, Managing Director of Nakilat, and Khalid Al Subeai, Acting CEO of Barwa Bank after signing the refinancing deal yesterday.

Doha: Nakilat, Qatar’s premier gas transporter, yesterday announced that it has added three new LNG vessels to its fleet through its joint venture Maran Nakilat, which has closed $807.4m of refinancing provided by Qatar Islamic Bank (QIB) and Barwa Bank.

The refinancing deal was signed during a ceremony held in Doha yesterday and attended by senior representatives from Nakilat, QIB and Barwa Bank. The contracts were signed by Eng. Abdullah Fadhalah Al Sulaiti, Managing Director of Nakilat, Bassel Gamal, QIB Group CEO, and Khalid Al Subeai, Acting CEO of Barwa Bank.

The three new LNG carriers will be added to Maran Nakilat, Nakilat’s joint venture with Greek shipping company Maran Ventures. These new vessels increase the joint venture’s total fleet from eight vessels to 11 and will be used in international trade, growing Nakilat’s LNG fleet from 58 vessels to 61, and expanding Nakilat’s total fleet, including both LNG and LPG carriers, from 62 vessels to 65.

“We are dedicated to the continual enhancement of Nakilat’s position as the world’s leading LNG shipping company and support from the State of Qatar’s financial institutions enables us to achieve this goal,” said Al Sulaiti. 

“We thank Maran, QIB and Barwa Bank for their 

continued and valued collaboration,” he added.

Maran Nakilat has grown its fleet’s capacity over three different stages. “The signing of this agreement confirms the bank’s strategy and commitment to providing financial Islamic solutions that meet the requirements of its institutional and corporate clients, and its contribution in supporting the national companies in line with Qatar vision 2030 to build a stronger economy,” said Bassel Gamal.

“The signing of this agreement confirms our strong relationship with corporates which has enabled us, in a short time, to become the partner of choice for a number of major corporations such as Maran Nakilat company,” said Khalid Al Subeai.

The Peninsula

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