LNG

Oct 21 (LNGJ) - Qatar Gas Transport Co., also known as Nakilat, posted nine-month results showing a 10.5 percent rise in net profits of 728 million Qatari riyals ($200M) versus 659M riyals during the same period of 2018.

   “Nakilat’s positive financial performance can be primarily attributed to better operational performance in managing its LNG and liquefied petroleum gas vessels,” said the company. It also realized higher revenues on additional income from the acquisition of two additional LNG carriers and one floating storage regasification unit (FSRU) in 2018, as well as higher LPG shipping rates worldwide.

   “Nakilat’s strong financial performance bears testament to the company’s ongoing emphasis and continuous improvements to remain competitive within the global energy transportation market, sustaining healthy cashflow and generating steady returns for our shareholders, said Nakilat Chief Executive Abdullah Fadhalah Al Sulaiti.

Qatar Gas Transport Company, the Gulf state’s LNG carrier fleet operator, has now transferred 10 vessels from the maritime management of Royal Dutch Shell to its own subsidiary.

Qatar Gas Transport Co., the LNG carrier operator also known as Nakilat, posted lower first-half net profits as it completes the move of 25 LNG carriers from being operated by Royal Dutch Shell’s shipping unit to Nakilat itself.

Qatar Gas Transport Co., the Qatar LNG carrier operator also known as Nakilat, gave an upbeat message at its annual meeting in the Qatari capital Doha as it continued the process of taking back all its vessels from the operatorship of the Shell shipping unit and posted an annual net profit of 955 million Qatari riyals ($262M).