Qatar Gas Transport Company Ltd. (NAKILAT) has signed an agreement with Keppel Offshore & Marine Limited (Keppel O&M) through its wholly owned subsidiary, KS Investments Ltd., to jointly develop a world-class shipyard facility in the Port of Ras Laffan, Qatar.

This agreement signifies a landmark partnership between the world’s leading transporter of liquefied natural gas (LNG), and the global leader in ship repair, ship conversion and construction of offshore drilling rigs.

The proposed shipyard will be part of the massive expansion of the Port of Ras Laffan, in the Arabian Gulf, and is expected to begin operation in 2010.

Mr. Muhammad A. Ghannam, Managing Director of NAKILAT, said, “In our negotiations and through visits to Keppel’s shipyards in Singapore, we found the overall culture of Keppel, their best practices and business operations to be a good fit with our vision for the new shipyard. Keppel has very high standards of professionalism and commitment to service excellence which we appreciate.

“Our vision is for the new shipyard to become a centre of excellence for the repair and maintenance of LNG carriers, thereby securing a strategically important link in the supply chain of natural gas from wellhead to consumer.”

Mr. Tong Chong Heong, Managing Director/Chief Operating Officer of Keppel O&M, said: “This business venture is in line with our “Near Market, Near Customer” strategy to be close to our customers so that we can better serve them.

“We will replicate our proven management system in the new shipyard, and leverage the resources of our global network of 17 yards and commercial agents to ensure success of this joint venture with NAKILAT.”