The managing director of Qatar Gas Transport Co (Nakilat) has said that the company is planning to raise US$1 billion of loans in order to finance the purchase of a number of new liquefied natural gas (LNG) tankers.
“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.
The Qatari newspaper also reported that Nakilat plans to own 25 LNG carriers outright by 2010. At present Qatar is the world’s largest exporter of LNG.
The new carriers would be built in South Korea and Nakilat would look at all good sources available to raise the cash the newspaper said.
The news comes after Nakilat announced fourth quarter losses of $7.94 million in 2008.
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