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Thursday, November 26 - 2009

Qatar Gas Transport Company to acquire another LNG Carrier

As a continuing part of its acquisition program for Qatari projects, Qatar Gas Transport Company Ltd. (Nakilat) has executed a shipbuilding contract for another QMax LNG Carrier.

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This brings to 17 the number of LNG Carriers that Nakilat has ordered so far this year.

The QMax vessels, with a capacity of approximately 265,000 m³ and a delivered cost in the region of US$300 million, are the largest size of LNG carrier to be ordered. In addition to these 17 LNG carriers of which QGTC will own 100%, the company owns 30-60% in another 28 LNG carriers delivered or on order to service Qatar LNG projects.

According to Muhammad Ghannam, QGTC's Acting Managing Director, this new vessel will be ordered from Korean shipyard, Samsung Heavy Industries. The state-of-the art vessel, once delivered from the shipyard, is expected to be placed on long term charter to RasGas 3.

Says Ghannam
"This new vessel is a further step towards our ambitions to make QGTC the world's largest LNG shipowner. We expect to order more vessels over the next 6 months. The vessel will incorporate the latest technology for safe, reliable and cost-effective transportation of LNG over many years and, along with the other vessels ordered this year, is the result of several years of engineering design work and testing."


The ship will be powered by twin slow speed diesel engines and will have full scale on-board re-liquefaction plants which maximize LNG deliveries. Modification of existing shore side technology to onboard use allowed the vessels to use more efficient slow speed diesel and depart from the traditional but less efficient steam turbine.
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Notes and media contacts

About Qatar Gas Transport Company Ltd.:

QGTC was formed in June 2004 and is a joint stock company owned 50% by its founding shareholders and 50% by the public as a result of an IPO issued early 2005. It is publicly traded on the Doha Securities Market (DSM).

In addition to owning LNG tankers, QGTC is involved in a number of other marine related ventures in the State of Qatar These include:

• the design, building and operation of a state of the art ship repair yard (drydock facility) in Ras Laffan which is expected to be operational by end 2009;

• ownership of vessels to transport the associated products of LPG, sulfur and condensate produced by Qatari projects;

• Nakilat Agency Company which is the exclusive agent for all ships calling at the port of Ras Laffan owning and operating tug boats, pilot boats and other harbor craft in the port of Ras Laffan;

• Nakilat Fuji which is a ship chandlery business providing food, provisions and stores to vessels calling at Qatari ports, and warehousing services essentially for LNG vessel spare parts in Ras Laffan.

Qatar gas Transport Company (NAKILAT)
P.O.Box 22271
Doha
State of Qatar
Tel: +974 4672283
Fax: +974 4672188

Vallath Kavitha
PR & Events Account Executive
Fortune Promoseven - Doha Qatar
4th Floor - Pearl Tower
Al Sadd Street, Doha Qatar
Tel: +974 436 4385
Fax: +974 436 4387
www.promoseven.com

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