June 12, 2018 / 11:43 AM / a year ago

Qatar's Nakilat, Excelerate sign deal on JV, FSRU stake

DUBAI, June 12 (Reuters) - Qatar Gas Transport Company (NAKILAT) said on Tuesday it had signed an agreement with U.S. firm Excelerate Energy to form a joint-venture company and acquire a 55 percent interest in a floating storage regasification unit (FSRU).

“This acquisition is pivotal to the state of Qatar, as this is the first FSRU co-owned by a Qatari company, which paves the way for Qatari liquefied natural gas (LNG) to expand its outreach to developing and emerging markets,” Qatar’s Energy Minister Mohammed al-Sada said in a statement.

“This will enable Nakilat to widen its international outreach and thus, secure its industry-leading position in the dynamic and competitive LNG market.” (Reporting by Maha El Dahan; writing by Rania El Gamal; editing by Jason Neely)

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