Qatar: Nakilat posts higher profit

Nakilat of Qatar, the world’s largest LNG shipper, posted a net profit of QR 756.3 million (US $208m) for the first nine months of this year, an increase of 9% as compared to 2014.

The LNG shipping company said earnings per share amounted to QR 1.37 in the nine-month period, as compared to QR 1.25 for the same period of the previous year.

Nakilat has lowered its operating costs and the company’s financing costs are decreasing as it has repaid “a suitable amount of loans,” Abdullah Al Sulaiti, Nakilat Managing Director said in a statement issued on Wednesday.

We have also seen increased profits from our joint ventures, particularly since the launch of new two vessels during the year, along with an additional five vessels that became fully operational,” Al Sulaiti added.

Nakilat’s fleet of 67 wholly- and jointly-owned LNG and four LPG vessels comprises the world’s largest gas fleet.

The LNG vessels represent a total investment of approximately US $11 billion and have a combined carrying capacity of over 8.5 million cubic meters, according to Nakilat’s website.

 

LNG World News Staff; Image: Nakilat

 

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