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Qatar's Nakilat, Norway's Hoegh to partner for LNG

Qatar's Nakilat, Norway's Hoegh to partner for LNG
Two companies sign MoU to explore business collaboration in Floating Storage and Regasification Unit business

Qatari state-owned LNG Tankers Company, Nakilat, signed a Memorandum of Understanding (MoU) with Hoegh LNG, exploring collaboration for Floating Storage and Regasification Unit (FSRU) business, Nakilat announced on Tuesday.

Nakilat noted that the step is a part of its diversification strategy to avail of opportunities and solutions to deliver LNG to global markets.

"FSRU is the leading-edge technology for the liquefied natural gas (LNG) market. It is essentially a floating LNG import terminal. This technology has become a strategic solution for countries without LNG receiving terminal infrastructure, enabling better accessibility of clean energy," the Qatari company said.

Among the significant benefits of FSRU is the ability to serve attractive markets which would otherwise not be able to utilize natural gas. The use of FSRUs also allows for lesser transportation risks while having the flexibility to be relocated or used as an LNG carrier, according to Nakilat.

"Nakilat views this strategic alliance with Hoegh LNG, a leading owner and operator of FSRUs, as a huge stepping stone for further growth," Nakilat’s Managing Director Abdullah Al-Sulaiti was quoted as saying.

Sveinung J.S. Stohle, president and CEO of Hoegh LNG, also said that they are pleased and very proud to be partnering with Nakilat, the largest LNG carrier company and look forward to jointly contributing to expanding the global market for LNG.

"The alliance with Nakilat is a confirmation of Hoegh LNG’s leading position in the FSRU market and offers the opportunity to further accelerate our market presence beyond the projects we undertake on a sole basis,” he added.

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