The Export-Import Bank of Korea (KEXIM) will provide financing for the construction of liquefied natural gas (LNG) carriers for Nakilat, Qatar’s state-owned shipping company.
Nakilat announced on the 28th that it has launched its first ship financing package for 25 LNG carriers to be built in South Korea in partnership with KEXIM.
The financing package is based on a memorandum of understanding (MOU) signed between KEXIM and Nakilat. The exact financing amount has not been disclosed. HD Hyundai Heavy Industries is slated to build 17 vessels, while Hanwha Ocean will construct 8 vessels.
Abdulla Al Sulaiti, CEO of Nakilat, said, “Through this partnership, we have secured essential funding to expand our fleet. We intend to leverage this international cooperation to strengthen our position in the global market and support Qatar’s ambition to become a global leader in the LNG sector.”
QatarEnergy aims to increase its annual LNG production capacity to 142 million tons by 2030.
Nakilat previously signed a time charter party (TCP) agreement with QatarEnergy in February last year to charter 25 LNG carriers.
