Qatar Gas Transport Company (Nakilat) and its joint ventures have recorded a net profit of QR1.5 billion in 2023, an 8.3% increase from the QR 1.4 billion it recorded in 2022.
Nakilat also reported revenues of QR4.6 million in 2023, reflecting a 5.7% year-on-year increase.
The company has attributed the growth to its “efficiency in managing its operations” and its” ability to capitalise on opportunities that have arisen despite challenges faced in the energy transportation market”.
In light of the group’s performance, the board of directors proposed the distribution of cash dividends amounting to 14% of the nominal share value (0.14 Qatari Riyal per share) for the year ending December 31, 2023.
“As geopolitical dynamics continue to impact global energy markets, Nakilat remains steadfast in adapting to these changes,” said Mr. Abdulaziz Jassim Al-Muftah, Chairman of the Board of Directors.
“We recognise the importance of staying agile in the face of uncertainties and are committed to overcoming challenges by leveraging our expertise and strategic partnerships with a forward-looking approach.”
Eng. Abdullah Fadhalah Al-Sulaiti, Chief Executive Officer of Nakilat, added, “This remarkable financial performance is due to the unwavering commitment of our dedicated seafarers and shore-based staff who work tirelessly to deliver clean energy to the world, safely and in a reliable manner.
“Their hard work and dedication have been instrumental in achieving these results.”
Earlier this month, Nakilat announced it had placed six orders with Hyundai Samho Heavy Industries (HSHI) of South Korea. Two of them will be cutting-edge LNG carriers with a cargo capacity of 174,000 cubic meters each and four are modern LPG/ammonia carriers with a capacity of up to 88,000 cubic meters.
These new vessels are set to be delivered between 2026 and 2027.