Nakilat’s H1 Profit Up By 7%

Qatar Gas Transportation Company (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 ($227 million) for the first half of the year ended 30 June 2024, an increase of 7% on the corresponding period in 2023.

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. This initiative reflects Nakilat’s commitment to modernization and innovation in maritime transport services, aiming to meet the growing demand in the global energy shipping sector. Upon completion of these vessels, Nakilat’s fleet will include 114 ships.

The company has once again been recognized among the Top 100 Listed Companies in the Middle East for 2024.

The company’s commitment to safety and sustainability is underscored by the accolade it received from the British Safety Council, which awarded a five-star rating in the Occupational Health and Safety Audit for the seventh consecutive time, and in the Environmental Sustainability Audit for the second consecutive time.