Qatar’s Nakilat has launched the first financing package with the Export-Import Bank of Korea (KEXIM) for 25 conventional Korean-built LNG vessels that will be fully owned and operated by Nakilat.

This initial financing launch follows the signing of a memorandum of understanding (MOU) between the company and KEXIM.

Furthermore, KEXIM was the initial financier for Nakilat’s first round of fleet financing in 2006, which included 25 LNG carriers.

The partnership represents a major step in Nakilat’s long-term strategy to expand its fleet with cutting-edge LNG carriers and to support QatarEnergy’s LNG shipbuilding program and its LNG expansion project.

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

Eng. 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.”