Nakilat, the shipping arm of Qatar’s liquefied natural gas (LNG) sector, has posted a first half net profit of QR501mn, up 2% on QR491mn registered in the same period last year.
Nakilat said the increase in the company’s profits “reflects the strong growth of Nakilat’s operating activities in transporting liquefied natural gas (LNG), and better performance of its liquefied petroleum gas (LPG) vessels.”
Nakilat managing director Abdullah Fadhalah al-Sulaiti said: “Nakilat’s half-year financial results are a clear indicator of the strength and stability of the company’s financial position, which has been achieved through sound growth and developmental strategies over the years. We are also continually assessing current investments in relation to profitability in order to address any risk involved for the company and its shareholders.”
Al-Sulaiti added, “Our LNG joint venture operations continue to underpin Nakilat’s financial results, enabling us to value-add to our shareholders.”
Nakilat is a Qatari LNG transport company providing an essential transportation link in the State of Qatar’s LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising of some 63 LNG vessels. Nakilat also owns and manages four large LPG carriers.
Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City via two strategic joint ventures: N-KOM and NDSQ.
Nakilat also offers a full range of marine support services to vessels operating in Qatari waters.
Al-Sulaiti: Strength and stability.
