Nakilat forms FSRU pact with Excelerate Energy

Qatar’s Nakilat, the world’s largest liquefied natural gas (LNG) shipping company, signed an agreement with US-based Excelerate Energy, to establish a joint-venture company and acquire interest in FSRU Exquisite. 

Nakilat said in its statement on Tuesday it plans to acquire a 55 percent stake in a floating storage and regasification unit, the first such vessel to join the company’s fleet.

Commenting on the agreement, Qatar’s minister of energy and industry and Nakilat chairman, Mohammed Bin Saleh Al Sada, said it will enable the company to widen its international outreach.

The FSRU unit has a capacity of 150,900 cubic meters and a peak regasification rate of 745 million cubic feet per day.

The vessel is located at Port Qasim in Pakistan and has received 10.4 million tons of LNG since it started operations in 2015, out of which 7.8 million tons were Qatari LNG.

Excelerate Energy’s managing director Steven Kobos added, “in 2017, the FSRU Exquisite delivered more regasified LNG ashore than any FSRU in history.”

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