CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Nakilat To Raise US$4.3bn For New LNG Tankers

Nakilat To Raise US$4.3bn For New LNG Tankers

by Lorys Charalambous, Tax-News.com, Cyprus

30 November 2006


The Qatar Gas Transport Company Limited, Nakilat, has announced plans to borrow up to $4.3 billion to buy 16 tankers to transport liquefied natural gas to the world markets.

The 16 LNG vessels are being constructed in Korean shipyards and are scheduled for delivery to Nakilat Inc. from 2008 to 2009.

In September, Nakilat announced that it had placed a $3 billion order for LNG carriers with Korean firms Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries.

In a statement posted to the Doha Securities Market, Nakilat revealed that it intends to raise the money from "various sources," but the majority of the funds will be raised through the issuing of senior secured bonds, which were recently rated 'A+' by Fitch Ratings.

The 16 LNG vessels will be 100% owned by Nakilat Inc. and its 16 vessel owning subsidiaries.

Nakilat's owns and operates LNG carriers and has said its fleet would reach 60 tankers by 2009.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »