Qatar’s Nakilat Upgrades LNG Tanker Fleet

19 Jun 2020 Issue: 63 / 25 By: Jamie Ingram

Qatari LNG shipping giant Nakilat is upgrading and expanding its fleet with a focus on pioneering LNG-fuelled tankers, even before QP’s massive expansion plans.

Qatar Petroleum’s announcement this month that it will book some 60% of the global LNG shipbuilding capacity through to 2027 is set to transform the emirate’s tanker fleet. QP labels the expansion “the largest of its kind in the history of the LNG industry” (MEES, 5 June). This puts the spotlight on Qatar Gas Transport Company (Nakilat).

Nakilat, founded in 2004, describes itself as providing “the essential transportation link in Qatar’s LNG supply chain.” The firm is listed on the Qatar Stock Exchange, with its largest shareholder the Milaha (Qatar Navigation) shipping firm. A range of government institutions also have holdings in Nakilat, including Qatar Pension Fund (Civil) with 12.42%, Qatar Pension Fund (Military) with 2.4%, Qatar Electricity and Water 2.0%. Qatar Petroleum itself has a modest 0.9%, but crucially the chairman of the board is former minister of energy Muhamad al-Sada, who represents QP. (CONTINUED - 1058 WORDS)