Q-Flex LNG service provider
Nakilat (Qatar Gas Transport Company Ltd) has actually paid $123 million in cash money to take complete possession of 4 Q-Flex LNG providers from joint-venture companion New York City headquartered International Seaways,Inc (NYSE: INSW), which had a 49% share in the JV
“Nakilat and INSW worked in partnership to conclude this transaction, demonstrating the high level of teamwork the companies have shared for over 15 years,” claimed Lois K. Zabrocky, International Seaways’ President and also chief executive officer. “Nakilat continues to be a very valued INSW partner and remains an important part of our ongoing commitment to our business relationships in Qatar. By monetizing our interest in the joint venture, we unlocked significant value for shareholders and further strengthened our balance”
With a freight lugging capability of 217,000 cu.m each, the 4 LNG providers have actually been run and also taken care of internal by Nakilat’s ship administration arm, Nakilat Shipping Qatar Limited (NSQL), given that 2014.
The procurement brings the overall variety of vessels wholly-owned by Nakilat from 25 to 29 LNG vessels, out of its total fleet of 74 LNG and also melted oil gas (LPG) vessels.
