Qatar Shipping buys two LNG vessels from SocGen

Carriers are chartered to RasGas under a 25-year contract

LNG plant in Qatar.
LNG plant in Qatar.

Qatar Shipping Company, a Milaha subsidiary, said on Thursday it has acquired the remaining 60% interest it already did not own in two Liquefied Natural Gas (LNG) carriers from Societe Generale.

The vessels, ‘Milaha Ras Laffan’ and ‘Milaha Qatar’, are chartered to RasGas under a 25-year long-term agreement and have approximately 14 years and 16 years remaining, respectively, the company said.

The first vessel was built in 2004 and has a 138,273-cbm capacity, while the second one was built in 2006 with a capacity of 145,602 cbm. Both vessels were constructed by Samsung Heavy Industries.

“This transaction reflects our disciplined execution of our long term strategy of investing in core businesses. We have a strong momentum and believe that we can sustain our growth and continue to execute on our strategy,” said Sheikh Ali bin Jassim Al Thani, chairman of Milaha.

 

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