Nakilat reports increased quarterly profits

Nakilat LNG carrier Nakilat LNG carrier

FEBRUARY 25, 2018 — Doha, Qatar, headquartered Nakilat (Qatar Gas Transport Company) has announced its financial results for the year ended December 31, 2017, with a net profit of QR 847 million (about $233 million).

Nakilat's 63 vessel LNG shipping fleet is world's largest. It also owns and manages four large LPG carriers and operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City via two strategic joint ventures: N-KOM and NDSQ.

The company reports that, despite the challenges facing the energy and maritime industry, it managed to achieve positive results across its operations that exceeded planned expectations in 2017 through enhanced operational efficiency and a reduction in general, administrative expenses and finance costs. Additionally, net profit achieved in the fourth quarter of 2017 was higher than that achieved in the third quarter of 2017 and fourth quarter of 2016, by 21% and 16% respectively.

Nakilat says it continues to explore and capitalize on different business opportunities and mitigating business risks to strengthen the company's international position as a global leader in the LNG shipping industry.

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