Nakilat reports lower profit amid regional operating challenges

Qatar Gas Transport Company (Nakilat) reported a net profit of QAR 1.29 billion for the nine months ended 30 September 2026, compared with QAR 1.31 billion during the corresponding period of 2025.

The results represent a year-on-year decline of approximately 1.5%, as the company continued to face operational challenges affecting parts of its marine services business.

Nakilat said the ongoing regional situation had affected ship repair, shipping agency and towage activities. Despite these conditions, the company maintained its core energy transportation operations and implemented cost-control measures to support operational stability.

Regional conditions affect marine services

Nakilat Chief Executive Officer Abdullah Al Sulaiti said the company continued to fulfil its role in supporting Qatar’s energy transportation sector despite the challenging operating environment.

According to Al Sulaiti, the group introduced cost-control initiatives while maintaining operational reliability across its fleet and continuing to serve customers.

The company also reported continued activity at its industrial and marine services businesses, including Qatar Fabrication Company (QFAB) and Qatar Shipyard Technology Solutions.

Both businesses progressed specialised projects supporting Qatar’s energy sector and domestic supply chain, although their activities remained exposed to the prevailing regional conditions.

Newbuilding programme advances

Alongside its financial results, Nakilat highlighted progress across its fleet expansion programme, which comprises 40 vessels under construction at shipyards in South Korea and China.

Several construction milestones were completed during the reporting period, with deliveries under the programme’s first phase progressing according to the company’s schedule from 2026.

A significant development was the naming of Nakilat’s first newbuild LPG/ammonia carrier, with a cargo capacity of 88,000 cubic metres.

The vessel marks an important step in the company’s efforts to diversify its fleet and expand its capabilities beyond conventional LNG transportation.

Nakilat said its ongoing investments and industrial activities remain aligned with its long-term growth objectives, despite the operating pressures affecting parts of its business.