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Nakilat to purchase LNG vessels

Nakilat to purchase LNG vessels

Seoul: South Korean shipbuilders Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries have landed yet another giant order for new LNG carriers from the Qatar Gas Transport Company, also known as Nakilat. Reports yesterday reveal that the Qataris have inked contracts worth some $2.13bn for another eight vessels, four each from the two builders.

An announcement from Daewoo said it had clinched new deals worth $1.22bn for five vessels, four for Nakilat to be delivered by the end of 2010 and one for an unidentified European owner. Separately, Samsung said it had signed to build four LNG tankers, each costing $286m, for Nakilat, with delivery by February 2010. The contracts represent the latest stage in what comprises perhaps the most dramatic tonnage acquisition programme ever. Established in 2004, Nakilat now has more than 50 new LNG carriers on order in South Korea, some owned outright and some with partners.

Separately, Qatari Energy Minister Abdullah bin Hamad Al Attiyah has revealed that his country will host an April meeting of key gas exporters who, between them, produce about 40% of the world's gas and hold 70% of global reserves. The Gas Exporting Country Forum (GECF) was set up in 2001 and members include Algeria, Bolivia, Brunei, Egypt, Indonesia, Iran, Libya, Malaysia, Oman, Qatar, Russia, Trinidad and Tobago, UAE and Venezuela.  [06/02/07]