Fitch Affirmed Nakilat Inc. Senior Bonds Rating With "Stable" Outlook

Doha, July 22 (QNA) - Qatar Gas Transport Company (Nakilat) advises that on July 17th 2015, Rating Agency "Fitch Ratings" affirmed Nakilat Inc.''''ssenior secured bonds rating at ''''A '''' with stable outlook. Qatar Gas Transport Company Ltd. (known as "Nakilat", which means carriers in Arabic) is a Qatari-listed shipping company established by the State of Qatar to own, operate and manage LNG vessels and to provide shipping and marine-related services to a range of participants within the Qatari hydrocarbon sector. Nakilat is an integral component of the supply chain of some of the largest, most advanced energy projects in the world undertaken by Qatar Petroleum, Qatargas, RasGas and their joint venture partners for the State of Qatar. Established in 2004 as a joint stock company owned 50 per cent by its founding shareholders and 50 per cent by the public Nakilat has the largest LNG shipping fleet in the world, consisting of 54 LNG vessels along with four Liquefied Petroleum Gas (LPG) Very Large Gas Carriers (VLGCs). Nakilats LNG fleet transports gas to global markets from Qatars North Field, the worlds largest non-associated gas field with approximately 15 per cent of the worlds proven reserves. Since its inception, Nakilat has also diversified its activities to become a well-rounded marine industry operator. This is evidenced by the development of Qatars rapidly expanding marine industrial sector via Erhama Bin Jaber Al Jalahma Shipyard, a world-class ship repair and shipbuilding facility in the Port of Ras Laffan. Nakilat established a joint venture (JV) Nakilat-Keppel Offshore & Marine (N-KOM) with Keppel Offshore & Marine to operate the shipyards ship repair facility. To operate the shipyards shipbuilding facility, Nakilat entered a JV with Damen Shipyards Group, a world-renowned shipbuilder to establish Nakilat Damen Shipyards Qatar (NDSQ). Nakilat also continues to develop Erhama Bin Jaber Al Jalahma Shipyard, overseeing the development and construction of new facilities at the yard. (QNA)