Nakilat acquires the ownership of 4 Q-Flex LNG carriers

25 October 2019

Nakilat has recently acquired the full ownership of four Q-Flex liquefied natural gas (LNG) carriers from its joint-venture partner, International Seaways, Inc. (INSW) following the execution of a sale and purchase agreement for the acquisition of the remaining 49.9% ownership interest in these vessels from INSW. This brings the total number of vessels wholly-owned by Nakilat from 25 to 29 LNG vessels, out of its overall fleet of 74 LNG and liquefied petroleum gas (LPG) vessels.

With a cargo-carrying capacity of 217,000cbm each, the four LNG carriers have been operated and managed in-house by Nakilat’s ship management arm, Nakilat Shipping Qatar Limited (NSQL), since 2014. This is in addition to the other 10 LNG and 4 LPG carriers under NSQL management.

Nakilat’s LNG shipping fleet comprises of 14 Q-Max, 31 Q-Flex and 24 conventional vessels (includes four newbuilds). The company also owns 4 liquefied petroleum gas (LPG) and one Floating Storage Regasification Unit (FSRU) as part of its fleet.