Nakilat to expand LNG carrier fleet


Qatar Gas Transport Co. (Nakilat) is clearly positive about the state of the LNG market, a sense of optimism that is set to see the company expand its fleet of owned LNG carriers to 25 by next year.

According to a report Qatari newspaper Gulf Times, Nakilat Managing Director Muhammad Ghannam has said that the company is planning to raise $1bn of loans in order to finance the purchase of a number of new LNG tankers.

$quot;Market conditions do not worry me. I am quite optimistic about getting the amount required at reasonable rates,$quot; Ghannam is quoted as saying.

The Qatari newspaper also reported that Nakilat plans to own 25 LNG carriers outright by 2010, with the aforementioned new carriers to be built in South Korea. Nakilat will apparently look at all good sources available to raise the cash, the newspaper suggested.

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