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The Peninsula: Shell to manage Nakilat’s LNG fleet

Web posted at: 11/19/2006 8:46:20

doha • Qatar Gas Transport Company Ltd (Nakilat) has appointed Shell International Trading and Shipping Company Limited (Shell) to manage its fleet of at least 27 new LNG carriers in a 25-year deal. Under this arrangement it is expected that Operational Management will be transferred to Nakilat within 12 years.

The agreement will involve Shell providing a range of shipping services to Nakilat including ship management as well as the transfer of know how and expertise to allow Nakilat to develop its own LNG Ship Management Company in Qatar, a news release said.

This new fleet of LNG vessels, currently under construction, will be put into service over the next four years to transport product from four of Qatar’s major LNG projects: Qatargas II (Train 5), Qatargas 3 (Train 6), and, subject to the agreement of the JV partners, RasGas III (Train 7) and Qatargas 4 (Train 7). These vessels will have capacities of approximately 215,000 cubic meters and 265,000 cubic meters.

Faisal Al Suwaidi, Vice-Chairman of Nakilat and CEO of Qatargas, said:” Our aspiration is to develop a world-class centre of excellence for LNG shipping in Qatar. To achieve this, we knew we had to partner with a world leader in the industry. We chose Shell because we believe Shell has the track record, knowledge and skills to help us reach our goal.”

Linda Cook, Executive Director, Shell Gas and Power said Shell is honoured to be selected to provide a full range of services to Nakilat’s large fleet of new LNG carriers.

“Qatar is well positioned to be the world leader in LNG while Shell is already involved in over a quarter of all LNG cargoes delivered. Today’s agreement is aligned with our broader strategy of helping Qatar develop its natural gas resources and further strengthens a well-established relationship,” Cook said.

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