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Nakilat-Shell formalise LNG fleet agreement

Nakilat-Shell formalise LNG fleet agreement

Doha: Qatar Gas Transport Company (Nakilat) and Shell International Trading and Shipping Company have signed a Master Services Agreement, which appoints Shell the shipping and maritime services provider for Nakilat's pending LNG fleet. Although the two companies had agreed to the decision in November last year, today's ceremonial signing enters the two companies into a legal contract for a period of 25 years.

The agreement will see Shell handle staff recruitment, training and vessel operational management for Nakilat, until such time as the latter is ready to take over operational management of its fleet.

Faisal Al Suwaidi, Nakilat vc and Qatargas ceo said, "As Qatar becomes the leading producer of LNG in the world, the requirement to have in place a world-class LNG shipping operation is essential. With the signing of this agreement, we are setting the foundations for the development of all the necessary LNG shipping capabilities to meet our growing global requirements. Shell's extensive experience and excellent track record in this area make them an ideal partner and we look forward to building a successful LNG shipping organisation together."

Upon delivery, the LNG vessel of between 210,000 - 266,000mtr3 capacity each, will be used to transport LNG from four of Qatar's major LNG projects. [11/07/07]