Nakilat achieves QAR 382 million net profit for the first quarter of 2022

Nakilat, the world’s largest Liquefied Natural Gas (LNG) fleet operator achieved a net profit of QR 382 million for the first quarter ended March 31, 2022, compared to QR 320.1 million during the same period in 2021, an increase of 19.3%.

Despite the global challenges posed by the COVID-19 pandemic, Nakilat continues to deliver uninterrupted clean energy to the world, through safe, reliable, and efficient shipping and maritime services. The company also continues to strengthen its value proposition, by offering ship repair, industrial and offshore fabrication, towage, and other maritime services.

Eng. Abdullah Al Sulaiti, Chief Executive Officer, Nakilat, said: “We are very pleased to report a stellar earnings result for the first quarter 2022, which reiterates the resilient business model that Nakilat has built over the years. Against the current backdrop of global economic environment and the long-term needs for diversified, secure and reliable energy transportation solutions, Nakilat shall continue to grow its assets portfolio and generate sustainable return for its shareholders.”

As a testament to the company’s commitment to health and safety, Nakilat recently attained a five-star grading in the Five Star Occupational Health and Safety Audit, for the fifth consecutive year. Conducted by the British Safety Council, the Audit provides a worldwide benchmark of organizational safety management systems against current best practice.

Al Sulaiti said: “I would like to take this opportunity to extend our deep appreciation to QatarEnergy, QatarEnergy Industrial Cities, Qatargas, and all our staff for their ongoing support and collaboration, in ensuring our success and the realization of our vision of becoming a global leader and provider of choice for energy transportation and maritime services.”

Nakilat will host an investor relations conference call on its financial results for the first quarter of 2022. The conference call will be held on 18 April 2022, at 13:30 (Doha Time), and the presentation will be made available on the company’s website prior to the call.
Source: Nakilat