Nakilat, Excelerate Energy Form Joint Venture

Nakilat, a Qatari LNG transport company, signed an agreement with Excelerate Energy USA, a Texas-based LNG company, to establish a joint-venture corporation. The agreement also includes a 55% interest in a floating storage regasification unit (FSRU), the first such vessel to join the Nakilat fleet.

FSRUs act as a hub for LNG deliveries. The FSRU unit in the agreement has a capacity of 5.3 Mcf (150,900 m³) and a peak regasification rate of 745 MMcfd (21.1 X 10⁶ m³/d). The unit is located at Port Qasim in Pakistan and has received 10.4 million tons of LNG since it started operations in 2015. About 7.8 million tons of that amount came from Qatari LNG.

Mohammed Bin Saleh Al Sada, Nakilat’s chairman, called the deal “pivotal” to Qatar as it will expand the country’s LNG reach to developing and emerging markets.