Latest news with #QatarGasTransportCompany
Zawya
29-04-2025
- Business
- Zawya
Qatar: Nakilat reports $118.9mln Q1 net profit, up 3.2%
Qatar Gas Transport Company (Nakilat) achieved a net profit of QAR433 million ($118.92 million) for the first quarter of 2025, ended March 31, marking a 3.2% increase from QAR420 million recorded in the same period of 2024. This robust performance underscores Nakilat's resilience and strategic success in a dynamic global market, the company said. Incurred total expenses of QAR673 million, reflected a decrease of 5.7%. This sustained growth is attributed to Nakilat's strategic fleet expansion, operational excellence, and unwavering commitment to delivering clean energy worldwide. Despite a challenging economic landscape marked by uncertainty and elevated interest rates, Nakilat has solidified its industry leadership, leveraging long-term agreements and optimizing fleet utilization to drive efficiency and profitability, it said. Eng Abdullah Al-Sulaiti, Chief Executive Officer of Nakilat, commented: "Nakilat's strong financial performance for the first quarter of 2025 highlight the success of our strategic vision and dedication to excellence. As we expand our fleet and enhance our capabilities, Nakilat continues to strengthen its standing as a global leader in the LNG shipping industry. The addition of new technologically advanced vessels and our long-term partnerships ensure we remain at the forefront of the evolving energy transportation landscape. We remain focused on sustainable growth, operational efficiency, and delivering long-term value to our shareholders and stakeholders." Nakilat's expansion strategy is further strengthened by its commitment to sustainable energy transportation. The company remains on track with its newbuild programme, which includes state-of-the-art LNG carriers and LPG/ammonia gas carriers under construction, marked a significant milestone with two steel cutting ceremonies for a total of ten of its new LNG carriers and four LPG/ammonia gas carriers at Hanwha Ocean and HD Hyundai Samho shipyards in South Korea in March 2025. – Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
29-04-2025
- Business
- Trade Arabia
Nakilat reports $118.9m Q1 net profit, up 3.2%
Qatar Gas Transport Company (Nakilat) achieved a net profit of QAR433 million ($118.92 million) for the first quarter of 2025, ended March 31, marking a 3.2% increase from QAR420 million recorded in the same period of 2024. This robust performance underscores Nakilat's resilience and strategic success in a dynamic global market, the company said. Incurred total expenses of QAR673 million, reflected a decrease of 5.7%. This sustained growth is attributed to Nakilat's strategic fleet expansion, operational excellence, and unwavering commitment to delivering clean energy worldwide. Despite a challenging economic landscape marked by uncertainty and elevated interest rates, Nakilat has solidified its industry leadership, leveraging long-term agreements and optimizing fleet utilization to drive efficiency and profitability, it said. Eng Abdullah Al-Sulaiti, Chief Executive Officer of Nakilat, commented: "Nakilat's strong financial performance for the first quarter of 2025 highlight the success of our strategic vision and dedication to excellence. As we expand our fleet and enhance our capabilities, Nakilat continues to strengthen its standing as a global leader in the LNG shipping industry. The addition of new technologically advanced vessels and our long-term partnerships ensure we remain at the forefront of the evolving energy transportation landscape. We remain focused on sustainable growth, operational efficiency, and delivering long-term value to our shareholders and stakeholders."
Zawya
16-03-2025
- Business
- Zawya
Nakilat commences construction of 6 new vessels at HD Hyundai Samho shipyard
Doha, Qatar – Qatar Gas Transport Company (Nakilat), a global leader in LNG shipping and maritime transportation, celebrated a significant milestone with the steel cutting ceremony marking the commencement of construction of six gas carriers at HD Hyundai Samho (HSHI) shipyard in South Korea. This milestone is part of Nakilat's strategic fleet expansion, reinforcing its commitment to meeting the growing demand for safe and efficient gas transportation. The ceremony was attended by senior officials from Nakilat, HD Hyundai Samho, along with distinguished guests, who witnessed the official commencement of construction for two cutting-edge LNG carriers and four modern LPG/ammonia gas carriers. The LNG carriers, each with a capacity of 174,000 cubic meters, and the LPG carriers, with a substantial capacity of 88,000 cubic meters each, are scheduled for delivery between 2026 and 2027. Commenting on the occasion, Eng. Abdullah Al-Sulaiti, Chief Executive Officer of Nakilat, stated: 'This milestone underscores Nakilat's dedication to expanding its world-class fleet and supporting Qatar's leadership in global gas supply. Our investment in these advanced vessels highlights our dedicated focus on operational excellence, sustainability, and the adoption of cutting-edge maritime technologies, enabling us to provide innovative and flexible shipping solutions to meet the evolving needs of the global energy shipping sector.' The new vessels will feature state-of-the-art propulsion systems and fuel-efficient technologies, aligning with the company's commitment to eco-conscious shipping solutions. By integrating the latest advancements in energy efficiency and environmental sustainability, Nakilat remains committed to playing a pivotal role in LNG and LPG transportation, contributing to the evolving energy landscape while upholding the highest standards of safety, reliability, and environmental responsibility. -Ends- ABOUT NAKILAT Nakilat is a Qatari Public Shareholding Company which is 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 four 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:Mr. Shammi Mohan, Head of Public Relations smohan@
Trade Arabia
28-01-2025
- Business
- Trade Arabia
Nakilat's net profit for FY 2024 surges 5pc to $436m
Qatar Gas Transport Company (Nakilat) has delivered solid results for FY 2024, registering a net profit of QAR1.64 billion ($436 million), up 5.1% over the previous year. Announcing its financial results for the 12-month period ended December 31, 2024, Nakilat said this stable growth underscores Nakilat's operational efficiency, its ability to seize emerging opportunities, which has been evident in our 2024 newbuild announcements and its resilience in navigating the challenges of the global energy transportation market. The Qatari group said 2024 had been a transformative year defined by its strategic vision and operational resilience. Through innovative practices and a focus on excellence, Nakilat has successfully managed the challenges of the global shipping environment, driving sustained growth. Nakilat pointed out that its commitment to meeting the growing demand for clean energy transport continues to take shape. Impressed with the performance, the board of directors has recommended the distribution of cash dividends of QAR7 per share for H2 2024. This is in addition to the half yearly interim cash dividend of QAR7 per share, which was already distributed for H1. With this, the total dividend amount distributed for 2024 has hit QAR14 per share, stated Nakilat in a statement. On the solid results, CEO Engineer Abdullah Al Sulaiti said: "Nakilat's strategic fleet expansion is supported by its focus on achieving the highest standards of occupational health and safety, sustainability and innovation across all aspects of safe and reliable operations to meet the increasing global demand for clean energy transportation." "As the company looks to the future, it remains committed to delivering value to its shareholders and partners ensuring long-term growth and success," stated Al Sulaiti. "Our financial and operational achievements in 2024 reflect the commitment and dedication of our team in delivering clean energy to the world safely and efficiently. These accomplishments are a testament to Nakilat's robust business strategy, its focus on customer-centricity, and its alignment with Qatar National Vision 2030," he added. This year, Nakilat advanced its shipbuilding program with Hyundai Samho Heavy Industries, which includes six advanced gas carriers under construction. This program comprises two LNG carriers, each with a cargo capacity of 174,000 cu m, and four modern LPG/Ammonia carriers, each with a capacity of 88,000 cu m, said the top official. "The fleet expansion strategy is also strengthened by new long-term contracts with QatarEnergy for operating and chartering the nine QC-Max LNG carriers, each with a capacity of 271,000 cu m, and 25 conventional LNG carriers, each with a capacity of 174,000 cu m. Upon completion of these projects, Nakilat's fleet will expand to a total of 114 ships, reinforcing our leadership in clean energy transportation and our capacity to meet growing global energy needs," he noted.
