Energy Minister Dr. Abdul Hussein bin Ali Mirza said that HRH Premier’s patronage of the ceremony reflects his continuous support for the energy sector’s projects and functions, noting that investing in the transportation of petrochemical products will enhance the investment momentum in the kingdom, in line with the government’s policies aiming to boost the national economy through increasing revenues and boosting development programmes.
Dr. Mirza explained that “Skaugen Gulf Petchem Carriers BSC”, a joint venture between IM Skaugen, Capital Management House and Nogaholding, was launched in 2010 for the aim of establishing a partnership in buying and leasing carriers to transport liquefied natural gas (LNG) and other petrochemical-based gasses from production areas in the Middle East to a great number of markets in the South East Asia, particularly China.
He also asserted that such an investment is in line with NOGA’s strategy aiming to consolidate oil investments in order to cater to the 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 giant marine fleet, is a successful step that will increase Nogaholding’s contributions.
It is to be noted that the first day of the inauguration ceremony will be attended by a large investors from Norway, China, Singapore, Russia and GCC and other Middle Eastern countries, as well as guests, local businessmen and professionals. The second day will be devoted to oil and energy companies and specialized university students