According to the first quarter financial report of 2025 released by Qatar Gas Transport Company Q.P.S.C. (Nakilat), the company achieved a net profit of QAR 433 million (US$119 million) in the first quarter of this year, a year-on-year increase of 3%. This robust performance underscores Nakilat’s resilience and strategic success in a dynamic global market.
This sustained growth is attributed to Nakilat’s strategic fleet expansion, operational excellence, and unwavering commitment to delivering clean energy worldwide. Despite a challenging economic landscape marked by uncertainty and elevated interest rates, Nakilat has solidified its industry leadership, leveraging long-term agreements and optimizing fleet utilization to drive efficiency and profitability.
Eng. Abdullah Al-Sulaiti, Chief Executive Officer of Nakilat, commented: “As we expand our fleet and enhance our capabilities, Nakilat continues to strengthen its standing as a global leader in the LNG shipping industry. The addition of new technologically advanced vessels and our long-term partnerships ensure we remain at the forefront of the evolving energy transportation landscape. ”
The strategy includes the construction of new LNG carriers and LPG/ammonia carriers. In March 2025, Hanwha Ocean and HD Hyundai Samho held steel-cutting ceremony for the 10 LNG carriers and 4 LPG/ammonia carriers that Nakilat is investing in. This move shows that Nakilat intends to strengthen its capabilities and increase operational flexibility through modern fleet tonnage.
The 14 vessels are eight 174,000 m³ LNG carriers built by Hanwha Ocean, which are expected to be delivered in 2028 and are wholly owned by Nakilat and will be chartered to a subsidiary of QatarEnergy under a long-term agreement; two 174,000 m³ LNG carriers and four 88,000 m³ LPG/ammonia carriers built by HD Hyundai Samho, which will be equipped with the latest technology, energy-saving equipment and environmentally friendly, highly efficient propulsion systems.
With a fleet of 69 LNG carriers, two LPG carriers and one FSRU, Nakilat is understood to continue to strengthen its position in Qatar’s key LNG export chain.