Marine Log

November 20, 2006

Shell to manage Qatar LNG fleet

Qatar Gas Transport Company Limited (Nakilat) has appointed Shell International Trading and Shipping Company Limited (Shell) to manage its fleet of at least 27 new LNG carriers.

Under this 25 year deal, it is expected that operational management will be transferred to Nakilat within 12 years.

The agreement will see Shell provide a range of shipping services to Nakilat including ship management as well as the transfer of know how and expertise to allow Nakilat to develop its own LNG ship management company in Qatar.

This new fleet of LNG vessels, currently under construction, will be put into service over the next four years to transport product from four of Qatar's major LNG projects: Qatargas II (Train 5), Qatargas 3 (Train 6), and, subject to the agreement of the JV partners, RasGas III (Train 7) and Qatargas 4 (Train 7). These vessels will have capacities of approximately 215,000 cu.m and 265,000 cu.m.

Faisal Al Suwaidi, Vice Chairman of Nakilat and CEO of Qatargas, said: "Our aspiration is to develop a world-class center of excellence for LNG shipping in Qatar. To achieve this, we knew we had to partner with a world leader in the industry. We chose Shell because we believe Shell has the track record, knowledge and skills to help us reach our goal."