Energy Minister Dr. Abdul Hussein bin Ali Mirza said that HRH the Premier’s patronage of the ceremony reflects his continuous support for the energy sector projects and functions, noting that investments in transportation of petrochemical products enhance the momentum of development in the Kingdom, in line with the Kingdom of Bahrain government’s policies aimed at boosting the national economy through increased national revenue and boosting development programs. Dr. Mirza remarked that “Skaugen Gulf Petchem Carriers BSC”, a joint venture between IM Skaugen, Capital Management House and Noga Holding, was launched in 2010 as a joint venture for buying and chartering carriers to transport liquefied natural gas (LNG) and other petrochemical products and gas from production areas in the Middle East to a number of South East Asian markets and particularly to China.
The Minister asserted that this is an investment in harmony with NOGA’s strategy which aims to consolidate oil investments and to cater to the increasingly growing demand for energy, adding that building a partnership with I M Skaugen, a 100-year-old establishment specialized in transporting petrochemicals and LNG via its ocean-going fleet, which is a successful step that will increase Noga Holding’s contributions. The inauguration ceremony will be attended by a number of businesspeople, investors and specialists from Norway, China, Singapore, Russia, GCC states and other Middle Eastern countries. The day following the ship’s inauguration will be devoted to oil and energy firms and post-graduate university students.