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Nakilat reports higher first-quarter profit in 2026
Qatar Gas Transport Company (Nakilat) in its financial results for the first quarter ended 31 March 2026 has announced a net profit of QAR 439 million, compared to QAR 433 million for the same period of 2025, an increase of 1.3%. Total income in this period was up 8.7% to QAR 121 billion. Nakilat has been relatively unaffected by recent events, given the fact it has long term charters for most of its vessels.
The company remains embarked on a massive newbuilding programme that will see 27 conventional LNG carriers, 9 QC Max LNG carriers and 4 LPG/ Ammonia carriers delivered from 2026 onwards from yards in South Korea and China. This will take its total fleet size to 112 vessels on completion, up from 72 at present. Nakilat has recently inaugurated a new shipbuilding project management office in South Korea, to strengthen its partnerships with Korean shipbuilders, and support collaboration on the construction of a total of 31 vessels that the company has on order in the country
Commenting on the results, Eng. Abdullah Al Sulaiti, Chief Executive Officer of Nakilat, said: “Despite the geopolitical challenges faced by Nakilat during the first quarter of 2026, the company was able to maintain its operational performance and take immediate and effective measures to rationalise expenses and reduce negative impact across its various business sectors, especially in dry dock facilities, agency services and towing services, which witnessed a noticeable decline in their operating rates. The company also continued to work around the clock to ensure high levels of reliability for its fleet, establish a culture of safety, and focus on providing services to customers at all times and under all conditions.”
