Tribune News Network
Doha
Qatar Gas Transport Company (Nakilat) continues to demonstrate robust financial performance in 2024, posting a net profit of QR1.64 billion, an increase of 5.1% compared to QR1.56 billion for the same period in 2023. The Board of Directors is pleased:
This stable growth underscores Nakilat’s operational efficiency, its ability to seize emerging opportunities, which has been evident in our 2024 newbuild announcements. and its resilience in navigating the challenges of the global energy transportation market.
2024 has been a transformative year for Nakilat, defined by our strategic vision and operational resilience. Through innovative practices and a focus on excellence, we have successfully managed the challenges of the global shipping environment, driving sustained growth.
Looking ahead, we are committed to leveraging our strengths and partnerships to build on this year’s successes and contribute meaningfully to the global energy transportation landscape.
Nakilat’s commitment to meeting the growing demand for clean energy transport continues to take shape. This year, the Company advanced its shipbuilding program with Hyundai Samho Heavy Industries, which includes six advanced gas carriers under construction.
This program comprises two LNG carriers, each with a cargo capacity of 174,000 cubic meters, and four modern LPG/Ammonia carriers, each with a capacity of 88,000 cubic meters.
The fleet expansion strategy is also strengthened by new long-term contracts with QatarEnergy for operating and chartering the nine
QC-Max LNG carriers, each with a capacity of 271,000 cubic meters, and 25 conventional LNG carriers, each with a capacity of 174,000 cubic meters.
Upon completion of these projects, Nakilat’s fleet will expand to a total of 114 ships, reinforcing our leadership in clean energy transportation and our capacity to
meet growing global energy needs. Abdullah Al-Sulaiti, Chief Executive Officer of Nakilat, remarked: "Nakilat’s strategic fleet expansion, supported by its focus on achieving the highest standards of occupational health and safety, sustainability and innovation across all aspects of safe and reliable operations to meet the increasing global demand
for clean energy transportation.
As the company looks to the future, it remains committed to delivering value to its shareholders and partners ensuring long-term growth and success.
Our financial and operational achievements in 2024 reflect the commitment and dedication of our team in delivering clean energy to the world safely and efficiently.
These accomplishments are a testament to Nakilat’s robust business strategy, its focus on customer-centricity, and its alignment with Qatar National Vision 2030.”
In line with Nakilat’s commitment to providing best practices in investor relations, the company will hold an investor relations conference to discuss the financial results for the period ending December 31, 2024, on Wednesday, January 29th, 2025, at 1:30 PM. The conference presentation will be published on the company’s website prior to the conference call.