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 trnsaction," 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
 Nov 29 2015 - Middle East ready for increase in air passenger trafficMENAFN
(MENAFN) The UAE, Qatar, Saudi Arabia, Egypt and Jordan are ready to accomplish a strong 4.9 percent growth in air passenger traffic.The gulf nations will all enjoy strong increase of 5.6 percent, ...

 Nov 29 2015 - MSM Index Drops 127 Points Last WeekQatar News Agency
(MENAFN - Qatar News Agency) Muscat Security Market (MSM) index closed at 5668 points, down by 127 points, constituting 2.2%, down for the fourth consecutive week. The sectoral indices declined, ...

 Nov 29 2015 - German State Aims for 4 Billion-Euro Exports to Saudi Arabia by 2020Qatar News Agency
(MENAFN - Qatar News Agency) The German State of Baden-Wurttemberg will strive to attain over 4 billion euros exports to the Kingdom of Saudi Arabia by 2020, a goal that will double the current ...

 Nov 29 2015 - UAE, Jordan Sign MoU to Enhance Joint Efforts in SMEs and InnovationQatar News Agency
(MENAFN - Qatar News Agency) The UAE Ministry of Economy and the Jordanian Ministry of Industry, Trade and Supplies, have signed a Memorandum of Understanding to increase cooperation between the two ...

 Nov 29 2015 - Militias Fighting Kills 19 in SomaliaQatar News Agency
(MENAFN - Qatar News Agency) At least 19 people were killed Saturday in fighting between rival militias in central Somalia, officials and residents said. The fatalities in the town of Galkayo ...

 Nov 29 2015 - Clashes Erupted between Police and Migrants on Greece-Macedonia BorderQatar News Agency
(MENAFN - Qatar News Agency) Clashes between riot police and migrants angry at being prevented from entering Macedonia from Greece have left up to 40 people injured. Macedonian soldiers raised a new ...

 Nov 29 2015 - Palestinian Shot Dead after Alleged Stabbing AttackQatar News Agency
(MENAFN - Qatar News Agency) A Palestinian was shot dead early Sunday by Israeli soldiers at the entrance of the old city of Jerusalem after allegedly stabbing and injuring an Israeli police . The ...

 Nov 29 2015 - Jordan's Border Guards Receive 51 Syrian RefugeesQatar News Agency
(MENAFN - Qatar News Agency) A total of 51 Syrian refugees from various age groups, entered into the Kingdom of Jordan through various crossing points during the last 72 hours. The Jordanian border ...

 Nov 29 2015 - Qatar- Economy Ministry Recalls 2011-2014 Models of Several Car BrandsQatar News Agency
(MENAFN - Qatar News Agency) The Ministry of Economy and Commerce has announced the recall of 2011-2014 models of Dodge, Chrysler, Jeep, Charger, Challenger 300c and Grand Cherokee, due to a ...

 Nov 29 2015 - Qatargas Shipping Department Wins Prestigious British Safety Council AwardsQatar News Agency
(MENAFN - Qatar News Agency) For the second consecutive year, Qatargas' Shipping Department has won two prestigious awards from the British Safety Council for its commitment to achieving excellent ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

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


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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