Qatar Gas Transport (Nakilat) on Wednesday announced that it has signed an agreement with Excelerate Energy – US, a well-recognised global leader in floating liquefied natural gas (LNG) regasification solutions, in order to establish a joint-venture company.
Nakilat will also acquire a 55% interest in a floating storage regasification unit (FSRU), to be the first of its kind to join Nakilat’s fleet, a statement to the Qatar Stock Exchange (QSE) showed.
FSRU acts as a hub for LNG deliveries with a capacity of 150,900 cubic metres and a peak regasification rate of 745 million cubic feet per day, data showed.
“This acquisition is pivotal to the State of Qatar, as this is the first FSRU co-owned by a Qatari company, which paves the way for Qatari LNG to expand its outreach to developing and emerging markets,” Mohammed Bin Saleh Al Sada, minister of energy and industry and Nakilat chairman, commented on the agreement.
Moreover, the acquisition will enable Nakilat to secure its industry-leading position in the LNG market.
“We are extremely proud to be the first Qatari company to acquire ownership in an FSRU in an effort to maintain our leadership in energy transportation and simultaneously support the country’s position as the top exporter of clean energy worldwide,” Abdullah Al Sulaiti, CEO of Nakilat, said.
The agreement opens new avenues for Nakilat to sustain its long-term growth and development strategies, Al Sulaiti added.