DOHA: 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 and marks a significant milestone in the Company's strategic growth and international collaboration.

The partnership represents a pivotal step in Nakilat's long-term strategy to expand its fleet with cutting-edge LNG carriers, and to support QatarEnergy's historic LNG shipbuilding program and its LNG expansion project. The agreement underscores the strong economic ties between Qatar and the Republic of Korea, while enabling Nakilat to secure financing for the construction of new vessels at leading Korean shipyards.

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. This collaboration highlights Nakilat's strong commitment to leveraging international partnerships to advance its global market position and support Qatar's position as a global leader in the LNG industry.”

KEXIM's participation, as a Korean government-backed financial institution, represents a strong endorsement of Nakilat's project. It provides a layer of financial assurance, contributing to secure necessary funding for Nakilat's Ship building requirements despite global market volatility and geopolitical risks. Renowned for its rigorous standards, KEXIM undertakes thorough financial, technical, and legal due diligence before committing to any project. Its involvement serves as a catalyst, encouraging broader participation from other financial institutions in future debt tranches.

This collaboration also builds on a strong precedent, as KEXIM was the initial financier for Nakilat's first round of fleet financing in 2006, which included 25 LNG carriers. This renewed partnership reflects a continued legacy of trust and cooperation. With the vessels being constructed in Korea, securing the initial financing package from KEXIM positions the project as a full-cycle, government-backed export finance initiative, reinforcing its credibility and attractiveness to investors.

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