Qatar Gas Transport Company (Nakilat) has reported a consolidated net profit of QR 1,161 million in 2020, an increase of 15.7 per cent compared to the same period in 2019, despite the fact that the global economy and LNG shipping market were impacted by the Covid-19 pandemic for most of last year. This represents the company’s highest annual profit since it was formed.
Other highlights of the year include the transfer of seven LNG carriers to in-house management and the delivery of seven LNG carrier newbuildings.
Eng. Abdullah Fadhalah Al Sulaiti, Chief Executive Officer (CEO) of Nakilat, said: “Amid the challenging business landscape, Nakilat remained steadfast in executing our long-term strategies, sustaining operational efficiencies while ensuring fiscal discipline across our global shipping and maritime operations. We were able to quickly adapt to the new normal of operating and demonstrated great resilience, as evident from our business and operational accomplishments throughout the year.”
Nakilat currently has an oceangoing fleet of 74 vessels. This includes 69 LNG carriers, four LPG ships and one FSRU.