RasGas II signs on for three LNG tankers

Qatar’s Ras Laffan LNG Co Ltd II (RasGas II) has confirmed the signing of Time Charter Agreements with the Teekay Nakilat Corp for the long-term charter of three LNG tankers, to be built by South Korea’s Daewoo Shipbuilding and Marine Engineering Co Ltd.
RasGas II signs on for three LNG tankers
RasGas II signs on for three LNG tankers
RasGas II signs on for three LNG tankers
RasGas II signs on for three LNG tankers
RasGas II signs on for three LNG tankers

RasGas said it would charter the vessels for 20 years delivering LNG from Ras Laffan Industrial City to its growing portfolio of customers, particularly in Europe.

“The ships, once in service will be operated by Teekay Shipping Corp. The ships will be delivered to RasGas between December 2006 and April 2007 timeframe and, with an LNG cargo capacity of 151,700 m3, will be the largest ships ever to be associated with any long-term RasGas agreement to date. This ceremony completes the acquisition process for three of the eight new LNG tankers that RasGas executed this July,” it added.

In related news, RasGas II confirmed the signing of a LOI between the Qatar Gas Transport Co Ltd and Teekay Shipping Corp over the eight LNG tankers.

In a statement RasGas said, “Qatar Gas Transport Co and Teekay Shipping Corp signed a ‘Letter of Intent’ that allows, under the terms of these Charter Agreements, the newly formed Qatari Company to assume up to 30% equity ownership in each of the new LNG vessels.” It did not elaborate further.

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