Qatar Gas Transport Co. (Nakilat) said its joint venture partner, KSI Investments Limited, plans to exit Qatar Shipyard Technology Solutions.

The Doha-listed Nakilat, which currently owns 79% in the venture, has agreed in principle to acquire KSI Investments' minority stake, representing 20% in the JV.

Qatar Shipyard Technology Solutions is an offshore and marine facility active in ship repair, ship conversion and construction of offshore drilling rigs.

Nakilat, is the main gas transporter for QatarEnergy. As part of the second phase of its massive LNG fleet expansion project, QatarEnergy selected Nakilat to own and operate up to 25 conventional-size LNG carriers.

(Writing by Brinda Darasha; editing by Seban Scaria)