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Nakilat expands JV with Maran Ventures

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LNG Industry,

Nakilat has announced that it has expanded its joint venture with Maran Ventures Inc. to include two new LNG vessels, taking the total number of vessels jointly-owned by the two companies to 13.

The two new LNG vessels are under construction in South Korea and are expected to be delivered in the third and fourth quarters of 2015. Upon delivery, the LNG vessels will bring the total number of LNG and LPG ships partially or wholly owned by Nakilat to 67. The LNG vessels are tri-fuel diesel electric (TFDE) propulsion models with capacities of 161 870 m3 and 174 000 m3, respectively.

Nakilat’s Managing Director, Abdullah Al Sulaiti, said: “Maran Gas is a highly reputed, quality operator and we are delighted in reconfirming our association with the company. This move strengthens ties between the two entities, and the current agreement allows for further expansion in the future […] Nakilat’s strong financial performance has allowed us to increase our fleet size further. Selecting strong partners in the shipping industry has been fundamental to Nakilat’s success, and our relationship with Maran continues to be reinforced since our first agreement in 2005.”

Edited from press release by

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