Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Nakilat signs $669m financing deal with Qatar National Bank  Join our daily free Newsletter

MENAFN - The Peninsula - 30/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Nakilat, Qatar's premier gas transporter, has secured a 669m facility from QNB Group for the refinancing of two existing LNG vessels and the purchase of two additional ones by its joint venture, Maran Nakilat Co Ltd



This is the second refinancing that Nakilat has secured for its joint venture in recent months. Through the two transactions, Nakilat has arranged a combined 1.33bn in refinancing for Maran Nakilat.



With these transactions, Nakilat to double the size of Maran Nakilat Co Ltd's fleet from four vessels to eight vessels and to increase its ownership in the joint venture by 10 percent. The new two vessels are currently under construction in Korea.



The agreement was signed at a ceremony held at the head office of QNB, with a number of senior officials from both sides attending



"This second refinancing agreement further reinforces Nakilat's solid relationship with our partner Maran Ventures Inc, to whom we are grateful for their continued collaboration. We also thank QNB for their excellent support throughout this transaction," said Abdullah Fadhalah Al Sulaiti, Managing Director of Nakilat.



Maran Ventures Inc is a subsidiary of Angelicoussis Shipping Group Ltd (ASGL).



Commenting on the financing agreement, Abdulla Mubarak Al Khalifa, the Executive General Manager and Chief Business Officer at QNB Group, said: "This milestone project will boost economic growth and further enhance QNB's reputation for delivering on large scale transportation projects.



Nakilat is a Qatari marine transport company providing the essential transportation link in Qatar's LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising 58 LNG vessels. Nakilat also manages and operates four large LPG carriers.



Through two strategic joint ventures, Nakilat-Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ), Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard.



Maran Nakilat Co Ltd was established in 2005. Its original fleet of four LNG vessels is on charter with RasGas


 


The Peninsula




  MENA News Headlines
 Jan 29 2015 - Saudi- Kingdoms economy expected to expand 3.22 this yearArab News
(MENAFN - Arab News) DUBAI: Cheap oil will slow growth in most Gulf Arab economies this year but heavy spending by governments and healthy private sector activity will prevent any serious slump a ...

 Jan 29 2015 - Saudi- Kingdom Holding's Q4 net income up 152Arab News
(MENAFN - Arab News) Kingdom Holding Company (KHC) chaired by Prince Alwaleed bin Talal announced the company's financial results of operations for the fourth quarter and for the 12 months ended Dec. ...

 Jan 29 2015 - Saudi- Tadawul edges down Dubai Qatar stocks fallArab News
(MENAFN - Arab News) DUBAI: Most Gulf equity markets pulled back on Monday as oil prices slipped again and negative fourth-quarter earnings weighed on Saudi Arabia's bourse.Brent crude fell back ...

 Jan 29 2015 - King opens Zarqa Public HospitalJordan News Agency
(MENAFN - Jordan News Agency) His Majesty King Abdullah II, accompanied by Her Majesty Queen Rania Al Abdullah, on Wednesday opened the new Zarqa Public Hospital, which has modern equipment and ...

 Jan 29 2015 - Qatar's Qafac to launch CO2 capture facilitiesMENAFN
(MENAFN) Qatar Fuel Additives Company Ltd (Qafac) announced that it has made all the preparations for the launch of one of the world's largest commercial-scale carbon dioxide (CO2) capture ...

 Jan 29 2015 - Saudi oil output to average at 9.6 mbpd in 2015MENAFN
(MENAFN) According to a new report by Jadwa Investment, a leading Saudi Arabian private equity house and investment bank, Saudi Arabia's full year average crude production is projected to reach 9.6 ...

 Jan 29 2015 - Emirates Airlines boosts A380 services in EuropeMENAFN
(MENAFN) Emirates Airlines announced that it has decided to boost its services to Europe by launching A380 services to the two European cities of Dusseldorf and Madrid, with Emirates becoming the ...

 Jan 29 2015 - UAE's pharmaceutical market grows to USD 781.21m in 2014MENAFN
(MENAFN) A study by Dubai Chamber of Commerce and Industry indicated that consumer expenditure on pharmaceutical products, medical appliances and equipment in the UAE is expected to witness an ...

 Jan 29 2015 - King, New Zealand foreign minister discuss ties, regional developmentJordan News Agency
(MENAFN - Jordan News Agency) His Majesty King Abdullah II on Wednesday discussed with New Zealand Foreign Minister, Murray McCully, the bilateral ties and ways to boost them, in addition to the ...

 Jan 29 2015 - Dubai to sell German aluminium makerThe Arabian Post
(MENAFN - The Arabian Post) Dubai International Capital (DIC) is launching the sale of German alumina products maker Almatis as the fund seeks to reduce its liabilities in the wake of a debt ...

more...


 






Google

Electronic & Mobile Payment

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help