Nakilat plans to raise $1bn in loans for new tankers

GAS TANKERS: Qatar company needs $1bn to pay for new tankers to transport liquefied natural gas. (Getty Images)

Qatar Gas Transport Co (Nakilat) plans to raise $1bn in loans within a year to finance purchases of new liquefied natural gas (LNG) tankers, its managing director said in remarks published on Sunday.

"Market conditions do not worry me. I am quite optimistic about getting the amount required at reasonable rates," Muhammad Ghannam said, according to Qatar daily Gulf Times.

By 2010, Nakilat aims to fully own 25 LNG carriers, Gulf Times reported. Qatar is the world's biggest exporter of LNG.

"Ghannam said Nakilat would look at 'all good sources available' for the loans, which would be used for the acquisition of LNG tankers now being built in South Korea," the paper said.
(Reuters)

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