Latest news with #QatarEnergy
Qatar Tribune
3 hours ago
- Business
- Qatar Tribune
Nakilat net profit up 3.7% to QR860 mn in first half of 2025
Tribune News Network Doha Qatar Gas Transport Company (Nakilat) announced its consolidated financial results for the first half of the year ended 30 June 2025, with a net profit of QR860 million compared to QR829 million for the corresponding period in 2024, an increase of 3.7 percent. This continued strong financial performance underlines Nakilat's operational resilience and strategicdiscipline. In addition, the board of directors approved an interim cash dividend for the first half of the year 2025 ended June 30, 2025, of 7.2 Qatari Dirhams per share. The interim dividend entitlement for the first half of the year 2025 will be granted to shareholders who own shares at the end of the trading session on August 6, 2025. These dividends will be distributed in line with the directives of the Qatar Financial Market Authoritythrough Edaa. The company incurred total expenses of QR1,396 million, reflecting a decrease of 4.5 percent. Nakilat Chief Executive Officer Eng Abdullah Al Sulaiti said, 'Nakilat's strong performance in the first half of 2025 reflects the dedication of our team and the flexibility we adopt in maintaining and sustaining our operations. We remain committed to deliver value to our shareholders, partners, and the global energy market through safe, efficient, and sustainable transportation of LNG. Nakilat remains focused on long-term growth and supporting the evolving global market and businessenvironment. 'Beyond maintaining resilient vessel operations, we are actively pursuing an innovative financing strategy to further strengthen Nakilat's financial position. This includes exploring creative structures and cost-effective solutions to reduce overall funding costs. These initiatives enhance our financial flexibility and resilience, positioning us to deliver greater long-term value. By reinforcing the stability of our cash flows, we reaffirm our commitment to generating sustainable, growing returns for our shareholders, a commitment clearly reflected in our latest financial results.' In 2025, Nakilat made substantial progress across its operations and strategic growth initiatives. The company celebrated yet another significant milestone with the steel cutting ceremony marking the commencement of construction of 25 LNG vessels at various shipyards in South Korea. The vessels are part of QatarEnergy's historic LNG fleet expansion project, which caters for future LNG fleet requirements for its LNG expansion projects. Owned by Nakilat, and built with a capacity of 174,000 cubic meters, the new vessels will be chartered to QatarEnergy affiliates under long-term agreements. The company has also commenced the construction of 6 new vessels at the Hyundai Samho Heavy Industries shipyard in South Korea, including 2 LNG vessels and 4 LPG/ammonia vessels. These vessels will be fully owned by Nakilat. Nakilat maintained its five-star rating from the British Safety Council in the Occupational Health and Safety Audit for the eighth consecutive time, and in the Environmental Sustainability Audit for the third consecutive time, reflecting its unwavering focus on safety, excellence, and sustainability. The company was once again recognised among the Top 100 listed companies in the Middle East for 2025, reaffirming its leadership in the region's maritime and energy logistics sector. In keeping with its commitment to exemplary investor relations, Nakilat will host a conference call to discuss the financial results for the first half of 2025 on Wednesday, July 30, 2025, at 13:30 hours (Doha Time). The presentation will be published on the company's website prior to theconference call.
Zawya
12 hours ago
- Business
- Zawya
Nakilat achieves QAR 860mln net profit for the first half of 2025, an increase of 3.7%
Doha, Qatar – Qatar Gas Transport Company Q.P.S.C. (Nakilat) announced its consolidated financial results for the first half of the year ended 30 June 2025, with a net profit of QAR 860 million compared to QAR 829 million for the corresponding period in 2024, an increase of 3.7%. This continued strong financial performance underlines Nakilat's operational resilience and strategic discipline. In addition, the Board of Directors approved an interim cash dividend for the first half of the year 2025 ended June 30, 2025, of 7.2 Qatari Dirhams per share. The interim dividend entitlement for the first half of the year 2025 will be granted to shareholders who own shares at the end of the trading session on August 6th, 2025. These dividends will be distributed in line with the directives of the Qatar Financial Market Authority through Edaa. Key financial highlights for the first half of 2025: Achieved a net profit of QAR 860 million, up 3.7% year-on-year. Incurred total expenses of QAR 1,396 million, reflecting a decrease of 4.5%. Eng. Abdullah Al-Sulaiti, Nakilat's Chief Executive Officer, commented: 'Nakilat's strong performance in the first half of 2025 reflects the dedication of our team and the flexibility we adopt in maintaining and sustaining our operations. We remain committed to deliver value to our shareholders, partners, and the global energy market through safe, efficient, and sustainable transportation of LNG. Nakilat remains focused on long-term growth and supporting the evolving global market and business environment. Beyond maintaining resilient vessel operations, we are actively pursuing an innovative financing strategy to further strengthen Nakilat's financial position. This includes exploring creative structures and cost-effective solutions to reduce overall funding costs. These initiatives enhance our financial flexibility and resilience, positioning us to deliver greater long-term value. By reinforcing the stability of our cash flows, we reaffirm our commitment to generating sustainable, growing returns for our shareholders, a commitment clearly reflected in our latest financial results.' In 2025, Nakilat made substantial progress across its operations and strategic growth initiatives. The Company celebrated yet another significant milestone with the steel cutting ceremony marking the commencement of construction of 25 LNG vessels at various shipyards in South Korea. The vessels are part of QatarEnergy's historic LNG fleet expansion project, which caters for future LNG fleet requirements for its LNG expansion projects. Owned by Nakilat, and built with a capacity of 174,000 cubic meters, the new vessels will be chartered to QatarEnergy affiliates under long-term agreements. The Company has also commenced the construction of 6 new vessels at the Hyundai Samho Heavy Industries shipyard in South Korea, including 2 LNG vessels and 4 LPG/ammonia vessels. These vessels will be fully owned by Nakilat. Nakilat maintained its five-star rating from the British Safety Council in the Occupational Health and Safety Audit for the eighth consecutive time, and in the Environmental Sustainability Audit for the third consecutive time, reflecting its unwavering focus on safety, excellence, and sustainability. The Company was once again recognized among the Top 100 Listed Companies in the Middle East for 2025, reaffirming its leadership in the region's maritime and energy logistics sector. In keeping with its commitment to exemplary investor relations, Nakilat will host a conference call to discuss the financial results for the first half of 2025 on Wednesday, July 30th, 2025, at 13:30 hours (Doha Time). The presentation will be published on the company's website prior to the conference call. For dial-in details and additional information, please visit the company's website at -Ends- About Nakilat Nakilat is a Qatari Public Shareholding Company which originally listed on the Qatar Stock Exchange in 2005. As a shipping and maritime company, Nakilat provides an essential transportation link in the State of Qatar's LNG supply chain. Its LNG shipping fleet is one of the largest in the world, comprising of 69 LNG vessels. Nakilat also owns and manages one FSRU and two large LPG carriers. Nakilat operates the ship repair, industrial and offshore fabrication facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City via strategic joint ventures: Qatar Shipyard Technology Solutions and QFAB. Nakilat also offers a full range of marine support services to vessels operating in Qatari waters. For more information, visit: For media inquiries, please contact: Shammi Mohan, Head of Public Relations smohan@ For investors inquiries please contact: Fotios Zeritis, Head of Investor Relations and ESG Reporting fzeritis@
Reuters
17 hours ago
- Business
- Reuters
Spain's Endesa faces $240 million claim in LNG contract dispute
MADRID, July 29 (Reuters) - Spanish power utility Endesa ( opens new tab faces claims of $240 million as part of an arbitration process related to a price review of a long-term liquefied natural gas supply contract, it said in a financial report published on Tuesday. The amount could change during the arbitration, launched by an unidentified LNG producer in January, the conclusion of which is not expected before the end of next year, it said. Endesa disclosed the legal dispute in February, at which time it estimated a potential hit of $300 million. The claim was then presented in June. Owned by Italian energy giant Enel ( opens new tab, Endesa was in 2023 ordered to pay $570 million to QatarEnergy in a dispute over a retroactive price adjustment, while in November, a court rejected a similar case filed by a Nigerian supplier seeking around $650 million in compensation. The company plans to progressively reduce its gas business as part of its decarbonisation plans and will let contracts with Qatar and Nigeria that end in 2025 and 2026, respectively, expire.
Zawya
2 days ago
- Business
- Zawya
Nakilat and KEXIM launch first financing package for 25 Korean built conventional LNG vessels
DOHA: Nakilat has launched the first financing package with the Export-Import Bank of Korea (KEXIM) for 25 conventional Korean-built LNG vessels that will be fully owned and operated by Nakilat. This initial financing launch follows the signing of a Memorandum of Understanding (MOU) between the Company and KEXIM and marks a significant milestone in the Company's strategic growth and international collaboration. The partnership represents a pivotal step in Nakilat's long-term strategy to expand its fleet with cutting-edge LNG carriers, and to support QatarEnergy's historic LNG shipbuilding program and its LNG expansion project. The agreement underscores the strong economic ties between Qatar and the Republic of Korea, while enabling Nakilat to secure financing for the construction of new vessels at leading Korean shipyards. Eng. Abdullah Al-Sulaiti, the Chief Executive Officer of Nakilat, stated: 'Through this partnership, Nakilat has secured vital financial resources for the fleet expansion, which reflects the strong belief in our financial stability and strategic operational capabilities. This collaboration highlights Nakilat's strong commitment to leveraging international partnerships to advance its global market position and support Qatar's position as a global leader in the LNG industry.' KEXIM's participation, as a Korean government-backed financial institution, represents a strong endorsement of Nakilat's project. It provides a layer of financial assurance, contributing to secure necessary funding for Nakilat's Ship building requirements despite global market volatility and geopolitical risks. Renowned for its rigorous standards, KEXIM undertakes thorough financial, technical, and legal due diligence before committing to any project. Its involvement serves as a catalyst, encouraging broader participation from other financial institutions in future debt tranches. This collaboration also builds on a strong precedent, as KEXIM was the initial financier for Nakilat's first round of fleet financing in 2006, which included 25 LNG carriers. This renewed partnership reflects a continued legacy of trust and cooperation. With the vessels being constructed in Korea, securing the initial financing package from KEXIM positions the project as a full-cycle, government-backed export finance initiative, reinforcing its credibility and attractiveness to investors. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
Qatar threatened to cut EU LNG supplies over sustainability law, letter shows
BRUSSELS: Qatar has threatened to cut gas supplies to the European Union in response to the bloc's due diligence law on forced labour and environmental damage, a letter from Qatar to the Belgian government, seen by Reuters, showed. Qatar is the world's third-largest exporter of liquefied natural gas (LNG), after the United States and Australia. It has provided between 12% and 14% of Europe's LNG since Russia's 2022 invasion of Ukraine. In a letter to the Belgian government dated May 21, Qatari Energy Minister Saad al-Kaabi said the country was reacting to the EU's corporate sustainability due diligence directive (CSDDD), which requires larger companies operating in the EU to find and fix human rights and environmental issues in their supply chains. "Put simply, if further changes are not made to CSDDD, the State of Qatar and QatarEnergy will have no choice but to seriously consider alternative markets outside of the EU for our LNG and other products, which offer a more stable and welcoming business environment," said the letter. A spokesperson for Belgium's representation to the EU declined to comment on the letter, which was first reported by German newspaper Welt am Sonntag. The European Commission also received a letter from Qatar, dated May 13, a Commission spokesperson told Reuters, noting that EU lawmakers and countries are currently negotiating changes to the CSDDDD. "It is now for them to negotiate and adopt the substantive simplification changes proposed by the Commission," the spokesperson said. Brussels proposed changes to the CSDDD earlier this year to reduce its requirements - including by delaying its launch by a year, to mid-2028, and limiting the checks companies will have to make down their supply chains. Companies that fail to comply could face fines of up to 5% of global turnover. Qatar said the EU's changes had not gone far enough. In the letter, Kaabi said Qatar was particularly concerned about the CSDDD's requirement for companies have a climate change transition plan aligned with preventing global warming exceeding 1.5 celsius - the goal of the Paris Agreement. "Neither the State of Qatar nor QatarEnergy have any plans to achieve net zero in the near future," said the letter, which said the CSDDD undermined countries' right to set their own national contributions towards the Paris Agreement goals. In an annex to the letter, also seen by Reuters, Qatar proposed removing the section of CSDDD which includes the requirement for climate transition plans. Kaabi is also chief executive of QatarEnergy. Qatar Energy gas has long-term supply contracts with major European companies, including Shell, TotalEnergies and ENI. (Reporting by Kate Abnett; Editing by David Holmes)
