Qatar’s Nakilat takes over management of first FSRU

Qatari LNG shipping giant Nakilat said it has transitioned the first-ever floating storage and regasification unit to its in-house shipping management.

Nakilat has assumed the technical ship management and operations of the 150,900-cbm FSRU Exquisite from a unit of US floating LNG player Excelerate. Nakilat and Excelerate jointly own the vessel.

The deal with Excelerate Technical Management starts from December 17, 2020.

FSRU Exquisite currently works in Pakistan’s Port Qasim at the country’s first LNG import terminal. But Excelerate will replace the vessel next year with a larger newbuild in order to cater to the facility’s expansion activities.

The FSRU Exquisite has a peak regasification rate of 690 million cubic feet per day. Since it statrted operations in 2015, the vessel has received more than 330 cargoes of LNG or about 21 million metric tons.

Furthermore, most of the LNG that arrives at the FSRU comes from Qatar’s giant Ras Laffan LNG complex.

Nakilat continues to boost managed fleet

With the new addition, Nakilat Shipping Qatar Limited’s managed fleet rises to 27 vessels, comprising of 22 LNG, four LPG carriers and the FSRU.

To remind, Nakilat has recently wrapped up the second phase of its fleet management transition from Shell’s trading and shipping unit.

Additionally, the transition included seven LNG carriers during the course of this year.

“The safe completion of the second phase fleet management transition involving seven LNG carriers, the delivery of a MEGI LNG newbuild, as well as the FSRU Exquisite transition to NSQL-management within less than a year – bears testament to our commitment in maintaining our leadership in energy transportation,” Nakilat chief executive Abdullah Al Sulaiti said.

Nakilat’s total fleet stands at 74 vessels, including the FSRU and three LNG newbuilds scheduled for delivery by end-2021.

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