Shipping company Nakilat, a subsidiary of Qatar Gas Transport Company, has raised $950m from 17 international and regional banks as part of a financing programme.

The fund will help the company acquire 25 LNG vessels currently under construction in Korea.

The company has received 14 of the 25 vessels, with eight more to be delivered by the end of 2009 and the remaining three vessels scheduled for delivery in mid-2010.