Saudi Arabia’s national shipping firm splashes $1bn on nine VLCCs
Bahri will pay 10% of the total transaction when the purchase agreement is signed, with the remainder paid on delivery.
21 August 2024
21 August 2024
Bahri will pay 10% of the total transaction when the purchase agreement is signed, with the remainder paid on delivery.
A final agreement is anticipated by the end of this year.
The nation is looking to produce enough refined products to supply the whole of the West African region by 2036.
An investigation was initiated following the incident during a maintenance check, which saw four people injured.
The collaboration aims to establish a regional CCS hub that could serve both domestic and international emitters.
Qatar Energy will source the LNG for the contract from its North Field expansion project, set to be operational in 2026.
The project includes a 720 million standard cubic feet per day onshore LNG regasification facility, among other features.
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