Qatar Gas Transport Company (Nakilat), a leading global liquefied natural gas (LNG) transportation firm, announced a consolidated net profit of QR1.29 billion for the third quarter of 2026. This figure represents a slight decrease of about 1.5 percent, or QR20 million, compared with QR1.31 billion reported in the same period last year. The company attributed its results to continued operational reliability amid a challenging regional operating environment and ongoing investments in fleet expansion and industrial projects.
Nakilat Chief Executive Officer Eng Abdullah Al Sulaiti highlighted that the current regional situation has impacted the company’s Marine Services segment, particularly affecting ship repair, shipping agency, and towage activities. Despite these challenges, the company maintained its strategic role in supporting Qatar’s energy transportation requirements, emphasizing cost-control measures alongside operational stability. “We remain steadfast in our commitment to serving our customers under all circumstances,” he said.
During the quarter, Nakilat advanced its long-term growth strategy focused on fleet diversification and new vessel construction. A notable milestone was the naming of its first new-build 88,000-cubic-metre liquefied petroleum gas (LPG) and ammonia carrier, a key component of its effort to broaden its vessel portfolio and increase operational capabilities amid evolving global energy transportation demands.
The company also reported significant progress on its extensive newbuilding programme, with an orderbook of 40 vessels currently being constructed at prominent shipyards in South Korea and China. Several major construction milestones were reached during the quarter, with deliveries under the initial phase proceeding as scheduled from 2026. This programme forms a cornerstone of Nakilat’s long-term development plans, aimed at expanding and diversifying its fleet to enhance service capacity in the energy transportation market.
In addition to its marine operations, Nakilat’s industrial subsidiaries Qatar Fabrication Company (QFAB) and Qatar Shipyard Technology Solutions continued work on various specialised projects supporting Qatar’s energy sector. These efforts contribute to the growth of local industrial expertise, strengthening the national supply chain and underpinning the country’s strategic energy infrastructure development.
Despite ongoing market pressures stemming from the regional situation, Nakilat reaffirmed its commitment to operational continuity, implementing cost-efficiency initiatives, and progressing projects aligned with its long-term objectives to support Qatar’s evolving energy industry needs.