Qatar Gas Transport net profit down 1.5pc in Q3

21/10/2026 06:12 AST

Qatar Gas Transport Company (Nakilat) has announced that it has registered a slight decline in its net profit for the third quarter of 2026 which fell by 1.5% to QAR1.29 billion ($347 million) over last year's figure of QAR1.31 billion ($352 million) owing to the ongoing regional situation.

Announcing its consolidated financial results for the third quarter ended September 30, 2026, Nakilat said it continued to deliver a number of operational and strategic milestones that support its long-term growth objectives.

A key milestone was the naming of the company's first newbuild 88,000 cu m LPG/ammonia carrier, a significant step supporting the company's strategy to diversify its fleet and enhance its future operational capabilities.

The company also made notable progress in its newbuilding program, which comprises a total orderbook of 40 vessels currently under construction at leading shipyards in South Korea and China.

During the period, several major construction milestones were completed, reflecting the continued momentum of the program, with deliveries under the first phase progressing in line with the planned schedule from 2026, it stated.

On the Q3 performance, Nakilat CEO Eng. Abdullah Al Sulaiti said the ongoing regional situation continued to affect activities within its Marine Services segment, including ship repair, shipping agency and towage services.

"Despite these operating conditions, Nakilat continued to fulfill its strategic role in supporting Qatar's energy transportation sector and meeting the needs of its customers," he stated.

"Cost-control initiatives were implemented while maintaining the stability of our core activities and ensuring the highest levels of operational reliability across our fleet. We remain steadfast in our commitment to serving our customers under all circumstances," he added.

As part of Nakilat Group's contribution to supporting the country's strategic energy projects, Qatar Fabrication Company (QFAB) and Qatar Shipyard Technology Solutions continued to implement a number of specialised industrial and marine projects that contribute to strengthening national capabilities and developing the local supply chain for the energy sector. These efforts continued within a market environment that remains affected by the ongoing regional situation.

Trade Arabia