HSD Engine nets engine maintenance deal for Nakilat’s LNG ships
Qatar Gas Transport Company (Nakilat) and HSD Engine have signed a long-term service agreement for the provision of spares and maintenance services necessary to maintain the reliability of engines onboard Nakilat’s liquified natural gas (LNG) vessels.
This agreement is expected to improve the operational efficiency of the vessels’ engines and contribute to the overall LNG fleet availability.
As a shipping and maritime company, Nakilat provides a transportation link in the State of Qatar’s LNG supply chain. Its LNG shipping fleet is one of the largest in the world, comprising 69 LNG vessels. Nakilat also owns and manages one FSRU and four large LPG carriers.
“We are very pleased to sign this agreement with HSD Engine today. At Nakilat, our priority is to increase the operational efficiency of our vessels and maintaining the highest reliability and safety standards, as it gives us the competitive advantage at a time when the company is expanding its reach in the global gas shipping market,” Nakilat’s Chief Executive Officer Eng. Abdullah Al-Sulaiti said.
“Through this contract, we will further strengthen our cooperative relationship with Nakilat, and through the successful implementation of this project, we will strive to become a trusted business partner that provides the highest level of technical services in Qatar and the Middle East,” HSD Engine Chief Executive Officer Young Youl Koh commented.
Last year, Nakilat hired French LNG containment specialist GTT for the maintenance and operation of its fleet of 26 vessels. The company and its subsidiaries achieved a consolidated net profit of QAR 1,44 billion ($395.3 million) in the fiscal year 2022, a significant increase of 6.3%, as compared to QAR 1,35 billion ($372 million) in 2021.