Qatar Gas Transport Co (Nakilat) and Dutch firm Damen Shipyards Group are to jointly operate a shipbuilding facility at the Qatari port of Ras Laffan, the companies said on Thursday. Nakilat, the world’s largest shipper of liquefied natural gas (LNG), and

Damen have agreed to set up a joint venture 70 per cent held by the
Qatari company and 30 per cent owned by Damen to run the shipyard, a
statement said.

Nakilat Damen Shipyards Qatar, the 15-hectare (37.1 acre) shipyard built
on reclaimed land in the expanded port of Ras Laffan, will begin
operations in the first quarter of 2010. Neither company gave the value
of the deal.

The shipyards will produce commercial vessels, naval and coastguard
ships and luxury yachts of up to 120 metres (394 feet) long.

Last year Nakilat raised $949 million to fund new ships, the last
tranche of a $6.8 billion financing programme begun in 2006 to fund the
building of 25 LNG ships at South Korean shipyards.

Qatar has said that it would complete the expansion of its LNG
production capacity by September, adding a remaining 15 million tonnes
per year to existing capacity of 62 tpy. Qatar is the world’s leading
exporter of LNG.

Source: BTFlive.net

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