Nakilat and Damen Shipyards Group in shipyard JV

Qatar Gas Transport Company Ltd. (Nakilat) has signed a joint venture agreement with Damen Shipyards Qatar Holding B.V., a wholly owned subsidiary of Damen Shipyards Group, to jointly operate a world-class shipbuilding facility in the Port of Ras Laffan, Qatar.

Nakilat and Damen have agreed to form a 70/30 joint venture company (JVC) to manage the operation of the 15-hectare shipyard, which has been built on reclaimed land in the expanded Port of Ras Laffan.

The name of the JVC is: Nakilat Damen Shipyards Qatar, Limited, (N-DSQ).

The Ship Construction Facility, scheduled to commence operations in the first quarter 2010, is a state-of-the-art facility capable of building vessels with a length overall of up to 120 m. It has been designed to produce a wide variety of vessels, to include:

Commercial vessels (e.g. tugs, offshore supply vessels, coastal tankers, ferries).

Naval and Coast Guard vessels.

Luxury yachts (Custom and semi-custom steel / aluminum vessels).

The facility includes a Construction Hall, 270 m long, 65 m wide and 40m high, in which four 120 m long vessels can be constructed simultaneously. Supporting facilities include fabrication, pipe working, and mechanical and electrical shops.

"Our vision is for the new shipyard to become a center of excellence for the construction of all types of vessels [up to 120 meters in length] that are required to secure and support the development and growth of Qatar's oil and gas industry and its expanding marine industries sector, said Abdullah bin Hamad Al-Attiyah, Qatar's Deputy Prime Minister and Minister of Energy and Industry, who is Chairman of the Board of Directors of Nakilat. "Damen is a world leader with the proven expertise to assist Nakilat in achieving this vision".

Mr. Kommer Damen, Chairman of the Board of the Damen Shipyards Group, said: "Damen is honored to be selected as Nakilat's strategic partner for the management and operation of this world-class facility. We are confident that Nakilat and Damen can, together, make Qatar a global force in specialist ship construction."

In 2007 Nakilat formed a JV with Keppel Offshore & Marine (Nakilat-Keppel Offshore & Marine) that will operate Nakilat's state-of-the-art ship repair yard.