Qatar signs gas tankers agreements at $ 900 million

Qatar on Wednesday signed three agreements to build and rent three gas tankers at a total cost of $ 900 million.

The signatories of the agreement announced in a statement that Qatar gas company and "Offer Ship Holding Group" signed agreements with Hyundai and Samsung companies for heavy industries to build and rent four giant tankers out of 57 tankers Qatar is planning to get before 2010 for gas transport.

The statement explained that the process of operating the four tankers will be handed over between 2007 and 2008 in the course of agreements to rent for 25 years with the possibility of extending this phase for Qatar gas company.

He said that these lorries will be used for the transfer of liquid natural gas from Qatar to the UK.

The statement said that the total capacity of the four lorries is 216,000 cubic meters of gas and is characterized by a high technology with a unit to liquefy natural gas upon evaporation.

Qatar signed in recent years contracts with large number of world groups and companies for gas production and exportation at a time it occupies the world's third position in natural gas reserves.