Nakilat of Qatar, the world’s largest LNG shipper, posted a net profit of QR 490.2 million (US $134m) for the first half of this year, an increase of 10% as compared to 2014.
The company revealed a half year revenue of 1,797 million riyals, up 2 percent compared to a year ago.
Nakilat said in a statement it is in a good position to face the current economic situation, as the company’s ships are on long-term charter contracts that are not impacted by temporary fluctuations in oil prices.
Abdullah Al Sulaiti, Nakilat Managing Director said, “ Nakilat continues to maintain prudent levels of growth, we have lowered our operating costs and our financing costs are decreasing as we have repaid a suitable amount of our loans .”
“ We have also seen increased profits from our joint ventures, particularly since the launch of a new vessel in the second quarter, along with an additional five vessels that became fully operational,” he added.
Nakilat’s 54 wholly and jointly owned LNG vessels represent a total investment of approximately US $11 billion and have a combined carrying capacity of over 8.5 million cubic meters or 15% of the world capacity.
LNG World News Staff; Image: Nakilat