LNG Carrier Delivered to Nakilat, Qatargas

Nakilat and Qatargas announce the delivery of its newest Q-Max LNG Carrier, "Rasheeda", to the Nakilat fleet. "Rasheeda" was constructed at Samsung Heavy Industries Co. ltd on Geoje Island, and is one of the largest and most advanced of Nakilat's LNG carriers.

His Excellency Abdullah Bin Hamad Al-Attiyah, Deputy Premier, Minister of Energy and Industry and Chairman of Nakilat indicated, "The addition of this ship to Nakilat's LNG fleet marks the completion of a very aggressive and successful construction program comprising 25 Q-Max and Q-Flex vessels. All of these ships are the result of several years of intensive engineering and design work and incorporate the latest technology for the safe, reliable and cost effective transportation of LNG. "

Nakilat's Managing Director, Muhammad Ghannam, said: "This key milestone in Nakilat's history began with His Highness The Emir, Sheikh Hamad Bin Khalifa Al-Thani's vision for a fully integrated LNG supply chain and was made possible by His Excellency Al-Attiyah's ongoing support and direction. This occasion also provides us with the opportunity to celebrate the excellent partnership Nakilat enjoys with Qatargas and RasGas-our long term charterers."

Qatargas Chief Executive Officer, Sheikh Khalid Bin Khalifa Bin Jassim Al-Thani in acknowledging this achievement noted that:

"The delivery of Nakilat's final vessel, the "Rasheeda", into the fleet is a proud moment for all of those involved in realizing Qatar's strategy to manage and control all aspects of its LNG business--from the well head to world markets. We look forward to a long and productive relationship with Nakilat and the "Rasheeda".

The Nakilat owned Q-Max LNG Carrier "Rasheeda" will be used by Qatargas on a long-term charter basis to ship LNG to world markets. Nakilat's Q-Max (266,000 CMB) and Q-Flex (216,000 CMB) vessels are a new generation of LNG mega-carriers. The Q-Max has 80% more capacity than conventional LNG carriers with the further benefit of being able to operate with 40% lower energy requirements due to economies of scale and the efficiency of its engines. Q-Max LNG carriers are unique and purpose built for Nakilat and allow for the more efficient transport of Qatar's natural gas to markets throughout the world. Qatargas 4 shareholders include Qatar Petroleum and Royal Dutch Shell.