Wednesday, April 27, 2011

Finance & Business

Nakilat yesterday said most of its 54-strong fleet of liquefied natural gas tankers were sailing to Far East Asia.

Asked where most of Nakilat’s ships were heading, the company’s managing director Muhamad Ghannam said: “The Far East mainly: Japan, Korea, Taiwan and India.”

Nakilat is key player in Qatar’s role as the world’s largest exporter of LNG. The company owns and operates a fleet of 54 specially designed tankers to transport the super-cooled fuel to the US, Europe and Asia and also has four liquefied petroleum gas, or LPG, ships. All 58 vessels are in operation, Ghannam said.

On expanding the fleet, he added it is down to whether Qatar’s two big state-run LNG producing companies required it.

“It all depends on Qatargas and RasGas,” he said. “If they need more tonnage, then we will go ahead and secure the ships for them.”

Energy-hungry Asia, with booming emerging economies like China and India, is becoming an increasingly bigger buyer of Qatari LNG, while US demand for gas has dropped off due to discovery of unconventional forms of the fuel there.

Source: http://www.gulf-times.com

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