Nakilat Boosts Profit in Third Quarter

Qatar Gas Transport Company Q.P.S.C. (Nakilat) has achieve a net profit of QAR 1.28 billion ($352 million) in the third quarter of 2024, ended September 30.

This represents an increase of 7.2% compared to the same period in 2023.

Nakilat says it continues to strengthen its position as one of the world’s largest LNG fleet owners through strategic partnerships, fleet modernization and operational excellence.

The company continues to progress with its construction of advanced LNG and LPG/Ammonia carriers, scheduled for delivery in the coming years. These new vessels, along with Nakilat’s strategic long-term contracts, position the company to meet the growing global energy demands while increasing fleet efficiency. Upon completion of the delivery of all the vessels, Nakilat’s fleet will expand to 114 vessels, further reinforcing its leadership in the global clean energy transportation market.

Eng. Abdullah Al-Sulaiti, Chief Executive Officer of Nakilat, stated: “Nakilat’s strong performance this quarter reflects our ongoing efforts to enhance operational efficiency. As the global demand for clean energy transportation continues to grow, we remain committed to driving innovation and pursuing long-term growth. Our expansion projects, coupled with our dedication to sustainability, safety, customer-centricity and the highest industry standards, have enabled us to maintain our leadership in the maritime industry.

“I would like to extend my appreciation to the team at Nakilat for their tremendous efforts in preparing for the implementation of the new fleet construction, which is considered the world's largest program for building LNG vessels for a single owner."