Oil and gas company QatarEnergy, on Sunday, signed a time-charter party (TCP) agreement with energy transportation and maritime services provider Nakilat for operating 25 conventional-size liquefied natural gas (LNG) vessels, as part of the second ship-owner tender under QatarEnergy’s LNG Fleet Expansion Program.
The agreement was signed by His Excellency Saad Sherida Al-Kaabi, Executive Chief of QatarEnergy, and Abdullah Al Sulaiti, CEO of Nakilat at Doha, Qatar.
Time-charter party (TCP) agreement deals with the shipping industry where the owner of a vessel agrees to lease the vessel to another party for a specified period of time.
The firm said each of the 25 vessels has a capacity of 174,000 cubic meters and will be chartered out by Nakilat to affiliates of QatarEnergy pursuant to the 15-year TCP agreements.
“These agreements firm up last month’s selection of Nakilat as the owner and operator of up to 25 conventional-size LNG carriers, underscoring our continued confidence in Qatar’s flagship LNG shipping and maritime company,” said Al-Kaabi.
Recently, Chemical manufacturer Chevron Phillips Chemical (CPChem) collaborated with QatarEnergy to commence the construction of a $6 billion integrated polymers complex in Ras Laffan Industrial City in Qatar, where the Texas-based firm owns 30% and QatarEnergy owns 70% of the stakes of the project.
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