Nakilat's Q3 net profit surges 3pc to $355m

29/10/2025 03:59 AST

Qatar Gas Transport Company (Nakilat) announced a 3% jump in its net profit for the third quarter which rose to QAR1.31 billion ($355 million) from the last year's figure of QAR1.28 billion ($347 million).

This result underscores Nakilat's strong operational resilience and strategic discipline in a dynamic global LNG shipping environment.

Announcing its financial results for the three-month period ended September 30, 2025, Nakilat said its total income hit QAR 3.49 billion, up 1.5% year-on-year.

"Nakilat delivered a strong performance in the third quarter, driven by efficient execution and stable operations, alongside our teams' unwavering commitment to safety, operational excellence, and environmental sustainability," said its CEO Eng. Abdullah Al Sulaiti.

"We are approaching a pivotal phase in our expansion plans, as our LNG fleet growth program transitions from planning to execution, with the first vessel from the expansion project scheduled for delivery by the end of 2026," he stated.

"This expansion demonstrates our ability to respond effectively to global market demands and has positively impacted our pursuit of leadership in vessel performance, shipyard operations, and supporting logistics services. The results achieved reinforce our confidence in delivering sustainable, long-term value to shareholders, partners, and the global energy transport sector," he added.

The company enhanced its financial flexibility through a financing agreement with the Export-Import Bank of Korea for the delivery of 25 LNG carriers, supporting its long-term sustainable growth ambitions and boosting competitiveness during the Q3.

Nakilat also implemented effective measures to improve efficiency and reduce costs across its fleet and operations, ensuring high productivity and operational readiness.

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