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    Nakilat Reports Record Yearly Profit

Summary

Revenue for 2020 was also higher.

by: Shardul Sharma

Posted in:

Complimentary, NGW News Alert, Natural Gas & LNG News, Middle East, Liquefied Natural Gas (LNG), News By Country, Qatar

Nakilat Reports Record Yearly Profit

State-owned Qatar Gas Transport Company (Nakilat) has reported a 15.7% year/year increase in its net profit for the 12 months ending December 31, it said on February 7. 

The company’s net profit last year was riyal 1.16bn ($320mn), compared with riyal 1bn in the previous year. Revenue for the year was riyal 4.01bn, up 3.4% yr/yr.  

“The outstanding financial performance in 2020 is a testament to the company’s defensive business model and concerted efforts, which includes the safe completion of the second phase fleet management transition involving 7 LNG carriers, delivery of 2 Megi LNG newbuilds, as well as the first FSRU transition to NSQL-management,” the company said.