Nakilat of Qatar Posts Flat First Quarter Profit

Qatar Gas Transport Company (Nakilat), the largest LNG ship owner in the world, revealed a net profit of QR 189 million for the first quarter of 2013, in comparison to a net profit of QR 186.6 million for the corresponding period last year, an increase of QR 2.4 million.

Q1 2013 net profit after loss on derivative instruments from a joint venture was QR 177 .2 million compared with QR 176.6 million for Q 1 2012 after a loss on derivative instrument from a joint v enture, Nakilat said in a statement.

Nakilat owns 54 LNG vessels which transport LNG produced from Qatar’s North Field, the world’s largest non-associated gas field, with approximately 15% of the world’s total proven reserves to global markets.