Nakilat signs energy deal with Algerian state oil firm

TRIBUNE NEWS NETWORK

DOHA

NAKILAT, Qatar’s premier gas transporter, has signed a Memorandum of Understanding (MoU) for collaboration in areas of mutual interest with the state energy company of Algeria and Africa’s largest oil and gas company, Sonatrach, according to a release in Doha, on Monday.

The MoU was signed on Sunday night in the presence of Prime Minister and Minister of Foreign Affairs HE Sheikh Hamad bin Jassim bin Jabor al Thani, Prime Minister of Algeria HE Abdelmalek Sellal, Minister of Energy & Industry and Chairman of Qatar Petroleum (QP) HE Dr Mohammed bin Saleh al Sada and Minister of Energy and Mines of Algeria HE Youcef Yousfi.

CEO of RasGas and Nakilat’s Chairman Hamad Rashid al Mohannadi and the Chairman and CEO of Sonatrach, Abdelhamid Zerguine, signed the MoU on behalf of their companies.

In signing the MoU, Nakilat and Sonatrach have agreed to work together on a number of areas of common interest related to the marine transportation of hydrocarbons.

Potential areas of collaboration include the co-ownership of gas carriers, for which discussions are in progress regardingtwoliquefied natural gas (LNG) vessels, each with a capacity of 177,000m3.

Collaboration for vessel dry-docking, and the construction of vessels in both countries are also possible areas of cooperation.

Nakilat and Sonatrach have agreed upon transportation and collaboration for liquid petroleum gas (LPG).

The two companies have also discussed the sharing of technical information and experienceas well as collaboration with regards to the logistical support of their fleets.

Upon the occasion of the signing of the MoU, Nakilat’s Chairman Hamad Rashid al Mohannadi commented: “We are deeply grateful to HE Sheikh Hamad bin Jassim bin Jabor al Thani and HE Dr Mohammed bin Saleh al Sada for their excellent support, which has made the signing of this agreement possible. Nakilat isvery pleased to announce this MoU with Sonatrach and we look forward to a long and fruitful collaboration with Algeria’s state energy company.” Nakilat’s Managing Director Muhammad Ghannam said: “With Nakilat as the world’s largest LNG carrier and Sonatrach as Africa’s largest oil and gas company, we are certain that many rewarding synergies will result from the agreement reached between our two companies. We are also proud to be able to offer the services of Qatar’s worldclass shipyard, which is proving to be a strong competitor on the world market.” Nakilat is Qatar’s marine company, which provides the critical transportation link in the country’s LNG supply chain.

Its LNG shipping fleet is the largest in the world, comprising 54 LNG vessels.

Nakilat also manages and operates four LPG carriers.

Via two strategic joint ventures, Nakilat-Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ), Nakilat operates the state-ofthe- art ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard in the Port of Ras Laffan.

Sonatrach is the largest oil and gas company in Africa.

The company operates in the exploration, production, pipeline transportation andmarketing of hydrocarbons and their associated byproducts.

Shipping company Hyproc is a subsidiary of Sonatrach. The first commercial LNG shipment in the world was made from Arzew, Algeria to the UK in 1962.

Sonatrach is the world’s 4th natural gas exporter and 3rd LPG exporter.