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RasGas adds seven new Nakilat ships to its’ expanding LNG fleet
February 20, 2008 South Korea
On the 20th February, in the first of two naming ceremonies, the first four Q-Flex ships with a cargo carrying capacity of 216,000 m, approximately 50 per cent larger than conventional ships and the largest ships currently chartered by RasGas were formally named by VIP sponsors. Built by SHI at the Goje Island shipyard, the ships are owned by Teekay Nakilat (III Corporation) and will deliver LNG in the main to the Far East and US markets. Speaking at the naming ceremony, Mr. Hamad Rashid Al Mohannadi, RasGas Managing Director (CEO) said ‘RasGas currently produces 20.7 million tonnes per annum (Mta) from five LNG trains and by the end of 2009, we expect that production will be approximately 37 Mta with the completion of seven trains. We continue to place the safe and reliable transportation of LNG as a vital element of our operations. These additional four ships will ensure ongoing reliability and more efficient environmentally friendly cargo delivery to our customers around the world. I am delighted to be here with Nakilat and representatives’ from one of our shareholders, ExxonMobil and one of our customers, Distrigas, to take part in such a momentous occasion and to act as sponsor to these magnificent vessels.’ Mr. Muhammad Ghannam, Nakilat’s Managing Director explained, “These four ships are owned and operated through one of our joint ventures, Teekay Nakilat (III) Corporation, and will form part of our 54 vessel fleet which is currently being built by Korean ship yards. Twenty-two of our ships will be dedicated to RasGas and we look forward to working together as we bring these magnificent vessels into service and operate them for many years to come.” He said, “Our efforts to date along with our partners are evidence that together we are positioned to have the entire Qatar LNG Fleet ready to transport 30% of the world’s LNG around the globe by 2010. We are committed to deliver Qatar’s energy to the world in a safe and reliable manner.” At the ceremony the vessels were named by representatives from RasGas, ExxonMobil, and Distrigas, one of RasGas’ European customers. Hamad Rashid Al Mohannadi, RasGas Managing Director (CEO) was the proud sponsor of the ‘Al Kharsaah’. Whilst the ‘Al Huwaila’ and ‘Al Shamal’ were named by Mrs. Sherry Swiger, wife of Mr. Andrew Swiger, President ExxonMobil Gas and Power Marketing Company and Mrs. Ruth Billings, wife of Mr. Ron Billings, Vice President Global LNG, ExxonMobil Gas and Power Marketing Company respectively. The final ship in the quartet, ‘Al Khuwair’ was sponsored by Mrs. Magda Naudts wife of Mr. Erwin Van Bruysel CEO Distrigas. The vessels will enter service between April and June 2008 and under the terms of the Time Charter Agreement, RasGas will charter each vessel for a period of between 20 to 25 years to deliver LNG from existing and future facilities at Ras Laffan Industrial port to a growing global customer base. A second ceremony will be held on February 22nd at the Daewoo Shipbuilding and Marine Engineering Co Ltd shipyard to formally name the remaining three ships.
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As the liquefied natural gas (LNG) market continues to expand at a phenomenal
rate, RasGas Company Limited (RasGas), the Qatar based premium LNG exporter,
continues to grow its fleet to meet global demand. This week, RasGas, Teekay Nakilat
and J5 name seven Q-Flex LNG carriers that will enter long-term RasGas charters in
ceremonies at both the Samsung Heavy Industries (SHI) and Daewoo Shipbuilding and
Marine Engineering (DSME) shipyards in South Korea. These ships bring the RasGas
LNG fleet to a total 20 ships ranging from 138,000 cu.m through to 216,000 cu.m.
