Qatar's Nakilat secures US$669mn

Qatar's Nakilat secures US$669mn

Published: February 4, 2014

National gas company to use funds for refinancing, new vessel purchases.  

Qatar Gas Transport Company, commonly known as Nakilat, has agreed a US$669mn credit facility with Qatar National Bank.

The funds will go towards refinancing two existing liquefied natural gas vessels and purchasing two more through Maran Nakilat, a joint venture with Greek gas shipping company Maran Ventures. The two new vessels are currently under construction in South Korea and when complete will bring Nakilat’s fleet up to 58 vessels.

This is the second refinancing that has Nakilat has arranged through its joint venture in the past year. In June the company secured a US$662.4mn Murabaha agreement from Qatar Islamic Bank and Barwa Bank.