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Nakilat reports 25% profit increase

LNG Industry,

Qatar Gas Transport Company Limited (Nakilat) has announced its financial results for the nine months ended 30 September 2014.

Nakilat reported a net profit of QR 693 million, compared to QR 553 million achieved for the same period in 2013, an increase of 25%.

The company’s board of directors explained that these strong results reflect the strength and stability of the company’s financial position. Nakilat’s current strategy includes the exploitation of valuable opportunities to develop and grow the company’s main business activities in the LNG transportation sector, to include international markets. This strategy has resulted in an increase in the number of operating vessels in Nakilat’s fleet throughout 2014.

The board added that the strong improvement in the performance of the company’s LPG vessels contributed significantly to the achievement of these financial results.

Nakilat will exploit future opportunities to acquire new vessels, serving the international marine sector, and to increase the utilisation rate of the company’s facilities at Erhama Bin Jaber Al Jalahma Shipyard.

Adapted from press release by Katie Woodward

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