Nakilat’s flagship QMax LNG carrier Mozah. Right: LNG vessels docked at ship repairer Nakilat-Keppel Offshore & Marine (N-KOM). Nakilat’s LNG shipping fleet is the largest in the world, comprising some 61 vessels.

Nakilat (Qatar Gas Transport Company) has posted a 23% increase in its 2014 net profit to QR895mn compared with QR730mn in 2013.
The company’s board of directors has recommended a cash dividend of 12% (of the nominal value of its capital), which translates into QR1.20 a share.
It was also decided to convene Nakilat’s ordinary general assembly on March 10.
The board of directors has commended the company’s strong financial results, which it said “clearly reflect” the strength and stability of the company’s financial position. These results highlight the company’s prudent strategy in exploiting valuable business opportunities and risk assessment, which in turn, will support Nakilat’s quest to retain its position as global leader in transporting liquefied natural gas.
“All aspects of the company’s operations have achieved a higher profitability level. This was clearly demonstrated by the addition of a number of LNG vessels to Nakilat’s fleet during 2014 and the remarkable improvement of liquefied petroleum gas (LPG) vessels’ performance.
In addition, the increased operating activities at the shipyard facilities will continue to underpin the future financial results of the company.” The board of directors stated that Nakilat was in an “excellent position” to face the current economic conditions, due to the company’s long-term charter hire contracts. These long-term contracts will ensure the company’s financial performance is not impacted over the coming years by the oil price fluctuations.
The board has affirmed Nakilat’s “continuous commitment to pursue its development and growth strategy in the long term, in order to achieve strong returns to its shareholders.”
“Nakilat will exploit future opportunities to acquire new vessels, serving the international marine sector, and to increase the utilisation rate for the shipyard facilities at ‘Erhama Bin Jaber Al Jalahma Shipyard,” it said.
Nakilat is a Qatari marine transport company providing the essential transportation link in Qatar’s LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising some 61 LNG vessels. Nakilat also manages and operates four large LPG carriers and four LNG carriers.
Via two strategic joint ventures, N-KOM and NDSQ, Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard. Nakilat also offers a full range of marine support services to vessels operating in Qatari waters.