Qatar: Nakilat Net Profit Down

July 15, 2013

Nakilat of Qatar, world’s largest LNG ship owner, reported a drop in first-half net profit.

The company said its H1 – 2013 profit from operations was QR 374.7 million compared with QR 385.4 million for H1 – 2012.

H1 – 2013 net profit after a loss on derivative instruments from joint ventures was QR 359.6 million compared with QR 380.8 million for H1 – 2012 after a loss on derivative instrument from joint ventures.

Qatar Gas Transport Company (known as Nakilat, which means carriers in Arabic) is a Qatari-listed shipping company established by the State of Qatar to own, operate and manage LNG vessels and to provide shipping and marine-related services to a range of participants within the Qatari hydrocarbon sector.

Nakilat is an integral component of the supply chain of some of the largest, most advanced energy projects in the world undertaken by Qatar Petroleum, Qatargas, RasGas and their joint venture partners for the State of Qatar.

1 Qatari Rial equals 0.27 US Dollar

[mappress]
LNG World News Staff, July 15, 2013