LNG

Qatar Gas Transport Company, known as Nakilat and a global leader in liquefied natural gas shipping that is expanding its fleet to 80 ships through 2027, reported a more than 8 percent jump in annual net profits.

Qatar’s main shipping repairs and offshore construction facility, Nakilat-Keppel Offshore & Marine (N-KOM) located near the main liquefied natural gas production and shipping base of Ras Laffan, is rebranding itself into Qatar Shipyard Technology Solutions (QSTS).

Qatar Gas Transport Company, known as Nakilat and with a liquefied natural gas fleet of 69 vessels, reported a jump in net profits as the company’s ships satisfied rising global demand.

Qatar Gas Transport Company, known as Nakilat and with an LNG fleet of 69 vessels, has posted record net profits as demand for deliveries soared around the world.

July 16 (LNGJ) - Qatar Gas Transport Co., the fleet operator for Qatargas, posted a 15.5 percent increase in first-half net profit to 550 million Qatari riyals ($151M), up from the 476M riyals ($131M) recorded in the same six months last year. Additional revenues came from the strategic acquisition of the remaining 49.9 percent stakes in four Q-Flex LNG vessels in October 2019 by QGTC, also known as Nakilat. First-half revenues came to 2.02 billion riyal ($555.2M), an increase of 11.3 percent.

   “In these uncertain times, Nakilat remains committed in delivering value for our shareholders as we expand our international reach to meet the growing demand for energy transportation,” said Chief Executive Abdullah Al Sulaiti. “The company’s sustained financial performance bears testament to our ongoing strategy of enhancing efficiency, rationalizing expenditures and reducing operational and administrative costs,” added Al Sulaiti.

April 20 (LNGJ) - Qatar Gas Transport Co., also known as Nakilat, finished the first quarter of 2020 with an 18 percent rise in net profits of 279.5 million Qatari riyals ($76.8M), compared with 236M riyals in the same period in 2019. The company's fleet comprises 70 LNG vessels and several other ships.

   Revenues came in at 1.22 billion ($280.7M), up 13 percent. “Despite the ongoing challenges of the global pandemic, Nakilat continued to uphold operational excellence in the management of its LNG and LPG vessels and ensured no disruption to its business, demonstrating its strong commitment to safely, reliably and efficiently,” stated the company.

Qatar Gas Transport Co., the Gulf nation’s shipping company, posted annual revenues of over US$1 billion as it acquired several more ships for the Gulf LNG exporting nation.

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.