Qatar (Doha) – Qatar Gas Transport Company Limited (Nakilat), riding on excellent first half financial results, is poised to maximize returns on scheduled deals and the finalization of agreements to deliver of around 25 vessels to clients, top company officials said on Thursday.
The company reported QR 330,057 million profit for the six-month period ended June 30 compared to QR 233,577mn for the corresponding period in 2009.
Managing Director Mohammad Ghannam, speaking to media persons at a conference held at Four Seasons Hotel here said, “Our profits from operations have gone up in H1 and we are optimistic about maximizing returns sometime in the fourth quarter as everything is progressing as scheduled.”
Revenue from wholly-owned vessels stood at QR1.28 billion while share of operating profits from joint ventures was QR113.99mn; interest and dividend income by 42% to QR27.91mn and other income more than doubled to QR8.36mn.
Nakilat has 25 wholly-owned LNG vessels with a total investment of $7.5bn. By the end of this year, the company will have a total of 54 vessels, making it the largest liquefied natural gas ship owner in the world. Of these 54 vessels, 29 comprising 20 Q-Flex and nine conventional are joint venture partner held.
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