Nakilat and Maran expand joint venture partnership

6 March 2018 (Last Updated March 6th, 2018 11:50)

Qatar’s liquefied natural gas (LNG) sector shipping arm Nakilat has expanded its joint venture (JV) partnership with Greek shipping company Maran Ventures to add two new LNG vessels.

Nakilat and Maran expand joint venture partnership
Deal signing between Nakilat and Maran Ventures representatives. Credit: Qatar Gas Transport Company Ltd (Nakilat).

Qatar’s liquefied natural gas (LNG) sector shipping arm Nakilat has expanded its joint venture (JV) partnership with Greek shipping company Maran Ventures to add two new LNG vessels.

Formed in 2005 with four jointly owned LNG vessels, the JV Maran Nakilat later expanded on various occasions to include new vessels.

The latest expansion has increased the number of vessels owned by Nakilat and Maran Gas from 13 to 15 vessels.

The newly added vessels, built by Daewoo Shipbuilding and Marine Engineering, (DSME) are Woodside Rogers and Woodside Goode, and feature modern technology.

They also include dual-fuel diesel-electric (DFDE) propulsion models with 159,800m³ capacity each, and are placed under long-term charter.

Nakilat CEO Abdullah Al Sulaiti said: “Strategic alliance with renowned partners has been fundamental to our success, and we are always looking for opportunities to grow our international presence.

“Nakilat now has ownership interest in 69 vessels, affirming our global leadership in energy transportation with the world’s largest LNG fleet.

“Nakilat now has ownership interest in 69 vessels, affirming our global leadership in energy transportation with the world’s largest LNG fleet.”

“The company’s growth is a testament of our robust financial performance and strategic planning, which has allowed us to further increase our fleet size and strengthen our international portfolio.”

The latest expansion comes as part of the company’s efforts to increase returns for its shareholders and support Qatar’s position as the LNG exporter.

In August 2015, Nakilat and Maran Ventures carried out their third expansion to include two additional LNG vessels.

The vessels are equipped with tri-fuel diesel electric (TFDE) propulsion with capacities of 161,870m³ and 174,000m³, respectively.