Qatar Rents 12 LNG Tankers

Qatari Ras Laffan Liquefied Natural Gas Company (RasGas-3) on Monday signed a 20-year contract with two tankers companies to rent 12 natural gas tankers starting on 2008.

The agreement was signed by Qatari Minister of Finance and Board Chairman of RasGas-3 Yousef Hussein Kamal, Deputy Board Chairman Dr. Ibrahim Al-Ibrahim, and representatives of the foreign companies.

A company source said that the company will receive the ships between March and August 2008, noting that ships' capacity ranges between 210,000 and 217, 000 cubic meters of liquefied natural gas.

Meanwhile, contracts to build the ships were signed between the two foreign companies and three Korean heavy industries companies of Hyundai, Samsung, and DAEWOO.

After signing the contract, RasGas fleet would include 26 natural gas tankers.

(Source: Kuwait News Agency)