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Nakilat reports 1.6% profit decline despite higher income in Q3 2026
Qatar Gas Transport Company (Nakilat) has announced solid, but slightly reduced third quarter 2026 financial results, achieving a net profit of QAR 1.29 billion, compared to QAR 1.31 billion for the corresponding months in 2025, a drop of about 1.6%. Total income, however, increased by about 3.5% in the quarter compared with the equivalent months of 2025.
Eng. Abdullah Al Sulaiti, Nakilat’s Chief Executive Officer, commented: “The ongoing regional situation continued to affect activities within our Marine Services segment, including ship repair, shipping agency and towage services and the profit decrease was mainly influenced by those adverse factors. However, this negative trend was largely offset by lower vessel operating expenditure, lower finance charges and the accounting for gain on sale of two older LPG vessels.”
During the three months to the end of September this year, Nakilat reached a number of important milestones, including the naming of the company’s first newbuild 88,000m3 LPG/ammonia carrier. The company also made notable progress in its ongoing newbuilding program, which comprises a total orderbook of 40 vessels currently under construction at shipyards in South Korea and China. During the period, several major construction milestones were completed, underlining the continued momentum of the program. Deliveries are expected to meet planned schedules, with the first vessels entering service from late 2026.
