Nakilat, a leader in energy transportation, has secured the first financing package from the Export-Import Bank of Korea (KEXIM) for 25 conventional Korean-built LNG vessels, which will be fully owned and operated by the company.

 

Abdullah Al-Sulaiti, the Chief Executive Officer of Nakilat, stated: “Through this partnership, Nakilat has secured vital financial resources for the fleet expansion, which reflects the strong belief in our financial stability and strategic operational capabilities. This collaboration highlights Nakilat’s strong commitment to leveraging international partnerships to advance its global market position and support Qatar’s position as a global leader in the LNG industry.”

 

This partnership marks a significant milestone in Nakilat's strategic growth and international collaboration.

 

The agreement underscores the strong economic ties between Qatar and the Republic of Korea, enabling Nakilat to secure financing for the construction of new vessels at leading Korean shipyards.

 

KEXIM's participation, as a Korean government-backed financial institution, provides a layer of financial assurance, contributing to funding for Nakilat's ship building requirements despite global market volatility and geopolitical risks.

 

The Korean government-backed financial institution's involvement serves as a catalyst, encouraging broader participation from other financial institutions in future debt tranches.

 

The renewed partnership builds on a strong precedent, as KEXIM was the initial financier for Nakilat's first round of fleet financing in 2006.

 

The vessels being constructed in Korea positions the project as a full-cycle, government-backed export finance initiative, reinforcing its credibility and attractiveness to investors. -OGN / TradeArabia News Service