Nakilat signs agreement with Sonatrach
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, said in the company's press release.
The MoU was signed last night in the presence of HE Sheikh Hamad bin Jassim bin Jabor Al Thani, Prime Minister and Foreign Minister of Qatar, HE Abdelmalek Sellal, Prime Minister of Algeria, HE Dr Mohammed bin Saleh Al Sada, Minister of Energy & Industry and Chairman of Qatar Petroleum (QP), and HE Youcef Yousfi, Minister of Energy and Mines of Algeria.
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 regarding two liquefied 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 collaboration for liquid petroleum gas (LPG). The two companies have also discussed the sharing of technical information and experience as 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, Prime Minister and Foreign Minister, and HE Dr Mohammed bin Saleh Al Sada, Minister of Energy & Industry and Chairman of QP, for their excellent support, which has made the signing of this agreement possible. Nakilat is very 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 world-class shipyard, which is proving to be a strong competitor on the world market."
Nakilat is a Qatari marine company providing the critical transportation link in Qatar'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-of-the-art ship repair and construction facilities at Qatar's Erhama Bin Jaber Al Jalahma Shipyard in the Port of Ras Laffan.
Sonatrach (Société Nationale pour la Recherche, la Production, le Transport, la Transformation, et la Commercialisation des Hydrocarbures) is the largest oil and gas company in Africa. The company operates in the exploration, production, pipeline transportation and marketing of hydrocarbons and their associated by-products.
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.