Nakilat 9M Profit Up
Qatari state LNG shipowner Nakilat October 28 said its net profit for the nine-month period that ended September 30 was up 8.5% year on year.
Company’s 9M2018 net profit was Qatari riyal 659mn ($181mn) compared with Qatari riyal 607mn during the same period last year. “Nakilat’s stronger performance is a result of the company’s successful expansion, which is attributed to its strategic long-term plan to diversify and seek business opportunities with minimal risk, as well as through effective cost optimisation initiatives across its integrated operations,” the company said.
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Nakilat said it has continued to pursue its long-term strategic goals through the expansion of its fleet with two additional LNG carriers earlier this year. Also, the company recently acquired a stake in its first floating storage regasification unit (FSRU).
CEO Abdullah Fadhalah Al Sulaiti said the company is always on the lookout for opportunities to diversify its business and expand its portfolio, with the aim to widen international outreach and secure industry-leading position in the dynamic and competitive LNG market, which “will strengthen Qatar’s leading position in the global LNG transportation market.”