Qatar Gas Transportation Company Q.P.S.C. (Nakilat) and its Group subsidiaries announced their financial results for the first half of the year ended 30 June 2024, with a net profit of QAR 829 million for the first half of the year ended 30 June 2024, compared to QAR 775 million for the corresponding period in 2023, an increase of 7%. This robust financial performance highlights Nakilat's resilience and its strategic capabilities in dealing with the dynamic economic landscape.
The following highlights the most prominent financial results from the first half of 2024:
Achieved a net profit of QAR 829 million, reflecting an increase of 7%.
Incurred total expenses of QAR 1,461 million, reflecting a decrease of 4%.
In 2024, Nakilat achieved significant milestones in its fleet expansion project. The Company signed contracts to build six advanced gas carriers, including two LNG carriers and four modern LPG/Ammonia carriers. Nakilat also entered long-term contracts with QatarEnergy to charter and operate nine QC-Max LNG carriers, each with a capacity of 271,000 cubic meters, in addition to 25 conventional LNG carriers, each with a capacity of 174,000 cubic meters. These new vessels will be constructed and delivered according to the scheduled timeline over the coming years.
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 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.