Nakilat taps Kexim to finance acquisition: Qatar Gas Transport Company (Nakilat) inked an initial financing agreement package with Export-Import Bank of Korea (Kexim) for 25 conventional Korean-built LNG vessels, after the pair signed an MoU to target strategic growth, according to a press release (pdf). Nakilat will wholly own and operate the ships, but the investment ticket and delivery timeline remain undisclosed.

Long-time partners: Kexim financed Nakilat’s first round of fleet expansions almost 20 years ago — which included the integration of 25 LNG carriers.

Big expansions are already in the works: Construction on 17 LNG carriers commissioned by Nakilat kicked off at South Korea’s Hyundai Heavy Industries Shipyard in May. The vessels — whose capacities stand at 174k cbm each — were commissioned by QatarEnergy to expand its LNG-moving fleet and replace older vessels. The carriers will be chartered to QatarEnergy’s affiliates under a long-term arrangement for 25 vessels. Construction on another eight LNG vessels for Nakilat — also commissioned by QatarEnergy under the same long-term arrangement — began in March at South Korea’s Hanwha Ocean Shipyard.

The agreement supports QatarEnergy’s drive to bolster its LNG production capacity to some 142 mn tons per year by 2030.

South Korea’s got skin in the game: Qatar inked a 20-year LNG supply agreement with Korea Gas Corp back in 2020, with South Korea slated to receive 3 mtpa effective this year.

Lots in the pipeline: QatarEnergy is in ongoing talks for supply agreements with Japan and China. The firm also inked a five-year LNG supply agreement with India’s state-owned firm Gail to receive one LNG shipment per month until March 2030, and another long-term agreement to supply energy giant Shell with 3 mn mtpa for delivery to China.

The region’s booming: Arab LNG producers — dominated by Adnoc, QatarEnergy, and Oman LNG — have secured some 25 LNG long-term supply agreements since 2024 for up to 32 mtpa.

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