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FLEET PROFILE: Qatar Gas Transport Co

Mon 18 Apr 2016

FLEET PROFILE: Qatar Gas Transport Co

Qatar Gas Transport Company Ltd (Nakilat) could make an interesting case study at business school on how to successfully develop, implement and control a secure shipping supply chain.

Nakilat was formed in 2004 to deliver the 77 million tonnes per annum (mta) of LNG that Qatar’s state-owned gas-producing companies RasGas and Qatargas planned to export. It secured 25-year contracts to ship the LNG from these producers and embarked on a huge LNG carrier newbuilding programme, said to have cost about US$11 billion.

As of April, the Nakilat-controlled fleet comprised 63 wholly or part-owned LNG carriers with a total capacity of 13 million mᶾ and a current value of US$11 billion, according to VesselsValue.com. The vessels are reported to be on 25-year charters, with ten-year options, to RasGas and Qatargas.

To maximise exports, Nakilat chose the largest membrane containment system designs in three size ranges: the Q-Max, at around 260,000mᶾ; the Q-Flex, around 216,000mᶾ; and large LNG carriers of around 150,000mᶾ.

Q-Max and Q-Flex ships are said to be expensive to operate, due to the twin engine design, but since September, Nakilat has been testing the 2010-built Rasheeda, whose twin diesel engines have undergone a retrofit with MAN’s ME-GI dual-fuel propulsion system that can run on LNG.

Nakilat wholly owns all the Q-Max ships and holds a majority share of 16 of the Q-Flex types. Management and operation of these 31 vessels is a joint exercise with Shell International Trading and Shipping Company Ltd (STASCO) under a 12-year deal that started in 2008.

Under this agreement, STASCO is transferring its technical and LNG shipmanagement knowledge to Nakilat. This handover of expertise has already seen success in the case of four Nakilat VLPG carriers now entirely managed by Nakilat Shipping Qatar, a wholly owned subsidiary.

The remaining 36 LNG carriers in the Nakilat-controlled fleet are owned and operated by a small group of third parties, with Nakilat holding a significant share in the joint ventures of 43 per cent on aggregate, with buy-out options to purchase full control.

One of the major partners is Angelicoussis Shipping, which, through Maran Gas Maritime, has 15 LNG carriers chartered out to Qatari gas companies. Although Nakilat itself is no longer ordering LNG carriers – the last one was delivered in 2010 – the fleet available to Nakilat continues to expand through Maran Gas, which has 13 on order, with at least two said to be earmarked for Nakilat charters.

This highlights Nakilat’s future direction, relying on partners such as Maran Gas to provide the swing supply.

In the long-term, under the STASCO agreement, by 2020 Nakilat will directly manage the 14 Q-Max LNG carriers and 16 of the Q-Flex LNG carriers. These ships will undergo repairs and refits, and possible engine retrofits, at Nakilat’s own facilities in Qatar.

By 2020, Nakilat may have bought out some of the joint venture partners, lengthening the list of wholly-owned LNG vessels.

 

NAKILAT-ASSOCIATED GAS CARRIERS
Type  Value (US$ million)  Number  Capacity (m³)  Operator
LARGE LNG                                2,425.4 15                           2,365,410 Maran Nakilat
                                     351.8 3                               430,636 Qatar Shipping Co
                                 2,777.1 18                           2,796,046  
         
Q-FLEX                                1,340.2 8                           1,699,451 JC Nakilat
                                     651.3 4                               840,400 Pronav
                                 2,767.7 16                           3,408,019 Nakilat
                                     495.0 3                               648,704 OSG /  Nakilat
                                 5,254.3 31                           6,596,574  
         
Q-MAX                                2,849.6 14                           3,722,368 Nakilat (STASCO-operated)
LNG FLEET                              10,880.9 63                     13,114,988.0  
         
VLGC 73.73 1                                 82,452 Nakilat / Milaha
  214.62 3                               245,744 Nakilat / Milaha
VLGC FLEET                                    288.4 4                               328,196  
         
TOTAL                              11,169.3 67                         13,443,184  
         
Source: Qatar Gas Transport Co (Nakilat), QSC      

 

NAKILAT-ASSOCIATED LNG-CARRIER JOINT VENTURES
Name  Nakilat ownership 
J5 Nakilat No 1 Ltd, Cayman Islands 40%
J5 Nakilat No 2 Ltd, Marshal Islands 40%
J5 Nakilat No 3 Ltd, Marshal Islands 40%
J5 Nakilat No 4 Ltd, Marshal Islands 40%
J5 Nakilat No 5 Ltd, Marshal Islands 40%
J5 Nakilat No 6 Ltd, Marshal Islands 40%
J5 Nakilat No 7 Ltd, Marshal Islands 40%
J5 Nakilat No 8 Ltd, Marshal Islands 40%
Peninsula LNG Transport No 4 Ltd, Marshal Islands 30%
Teekay Nakilat Corp., Marshal Islands 30%
Pronav - Neptana Schiffsbetriebsgesellschaft  Alexandra KG, Germany 45%
Pronav - Nausola Schiffsbetriebsgesellschaft Britta KG, Netherlands 45%
Pronav - Nauranto Schiffsbetriebsgesellschaft  Gabriela KG, Marshall Islands 45%
Pronav - Neptora Schiffsbetriebsgesellschaft Julia KG, Liberia 45%
Teekay Nakilat (III) Corp, Marshal Isalnds 60%
OSG Nakilat Corp, Marshall Islands 50.1%
India LNG Transport Company No 3 Limited, Malta 20%
   
Source: Qatar Gas Transport Company Limited (Nakilat) QSC  

 

FLEET PROFILE, QATAR GAS TRANSPORT CO (NAKILAT)  
Name Capacity, m³ Built Nakilat ownership, % Charterer Chartered until
Milaha Ras Laffan                   138,270 2004 0% RasGas II, Trains 3,4+5 2029
Maran Gas Asclepius                   145,700 2005 60% RasGas II, Trains 3,4+5 2030
Umm Bab                   145,700 2005 60% RasGas II, Trains 3,4+5 2030
Simaisma                   145,700 2006 60% RasGas II, Trains 3,4+5 2031
Milaha Qatar                   145,000 2006 0% RasGas II, Trains 3,4+5 2031
Al Gattara                   216,280 2007 50.1% Qatargas II, Train 4 2032
Tembek                   216,200 2007 50.1% Qatargas II, Train 4 2032
Al Ruwais                   210,100 2007 45% Qatargas II, Train 4 2032
Al Safliya                   210,100 2007 45% Qatargas II, Train 4 2032
Al Jassasiya                   145,700 2007 60% RasGas II, Trains 3,4+5 2032
Maran Gas Coronis                   145,700 2007 60% RasGas II, Trains 3,4+5 2032
Bu Samra                   267,335 2008 100% Qatargas II, Train 5 2033
Mozah                   267,335 2008 100% Qatargas II, Train 5 2033
Umm Slal                   267,335 2008 100% Qatargas II, Train 5 2033
Al Ghuwairiya                   263,249 2008 100% Qatargas II, Train 5 2033
Al Thumama                   216,235 2008 40% RasGas III, Train 6 2033
Al Gharrafa                   216,224 2008 50.1% Qatargas II, Train 4 2033
Al Utouriya                   216,203 2008 40% RasGas III, Train 6 2033
Al Hamla                   216,200 2008 50.1% Qatargas II, Train 4 2033
Al Sahla                   216,164 2008 40% RasGas III, Train 6 2033
Al Kharsaah                   214,198 2008 100% RasGas III, Train 6 2033
Al Huwaila                   214,176 2008 100% RasGas III, Train 6 2033
Al Shamal                   213,536 2008 100% RasGas III, Train 6 2033
Al Khuwair                   213,101 2008 100% RasGas III, Train 6 2033
Al Oraiq                   210,198 2008 40% RasGas III, Train 6 2033
Murwab                   210,174 2008 40% RasGas and Qatargas 2033
Al Aamriya                   210,168 2008 40% RasGas III, Train 6 2033
Umm Al Amad                   210,157 2008 40% RasGas III, Train 6 2033
Fraiha                   210,152 2008 40% RasGas III, Train 6 2033
Al Ghariya                   210,100 2008 45% Qatargas II, Train 4 2033
Duhail                   210,100 2008 45% Qatargas II, Train 4 2033
Al Mafyar                   267,335 2009 100% Qatargas 3, Train 6 2034
Al Mayeda                   267,335 2009 100% Qatargas 3, Train 6 2034
Mekaines                   267,335 2009 100% Qatargas 3, Train 6 2034
Shagra                   266,398 2009 100% Qatargas 4, Train 7 2034
Al Dafna                   266,366 2009 100% Qatargas 4, Train 7 2034
Al Samriya                   261,700 2009 100% Qatargas II, Train 5 2034
Lijmiliya                   261,700 2009 100% Qatargas II, Train 5 2034
Al Ghashamiya                   217,330 2009 100% Qatargas 3, Train 6 2034
Al Kharaitiyat                   216,200 2009 100% Qatargas 3, Train 6 2034
Al Rekayyat                   216,200 2009 100% Qatargas 3, Train 6 2034
Mesaimeer                   216,200 2009 100% Qatargas 3, Train 6 2034
Al Shahaniya                   210,166 2009 100% Qatargas 3, Train 6 2034
Al Sadd                   210,162 2009 100% Qatargas 3, Train 6 2034
Onaiza                   210,150 2009 100% Qatargas 3, Train 6 2034
Al Karaana                   210,100 2009 100% Qatargas 4, Train 7 2034
Al Khattiya                   210,100 2009 100% Qatargas 4, Train 7 2034
Al Nuaman                   210,100 2009 100% Qatargas 4, Train 7 2034
Zarga                   266,433 2010 100% Qatargas 4, Train 7 2035
Rasheeda                   266,276 2010 100% Qatargas 4, Train 7 2035
Aamira                   266,236 2010 100% Qatargas 4, Train 7 2035
Al Bahiya                   210,100 2010 100% RasGas 3, Train 7 2035
Taitar No 3                   147,366 2010 0% RasGas to Taiwan 2035
Maran Gas Posidonia                   161,900 2014 60% Nakilat Short-term
Maran Gas Apollonia                   161,870 2014 60% STASCO (ex-BG charter) Not disclosed
Maran Gas Delphi                   159,800 2014 60% STASCO (ex-BG charter) Not disclosed
Maran Gas Efessos                   159,800 2014 60% Nakilat Short-term
Maran Gas Alexandria                   161,870 2015 60% RasGas and Qatargas Not disclosed
Maran Gas Sparta                   161,870 2015 60% STASCO (ex-BG charter) Not disclosed
Maran Gas Lindos                   155,800 2015 60% STASCO (ex-BG charter) Not disclosed
Maran Gas Achilles                   174,000 2016 60% RasGas and Qatargas Not disclosed
Hull 2437, DSME                   170,000 2017 [Maran Nakilat TBC] RasGas and Qatargas Not disclosed
Hull 2438, DSME                   170,000 2017 [Maran Nakilat TBC] RasGas and Qatargas Not disclosed
Source: VesselsValue, 2016          

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