Nakilat’s profit triples to $44.9m in Q1

15 Apr 2010

(MENAFN) Qatar Gas Transport Co, known as Nakilat, posted $44.91 million profit in the first quarter of 2010, compared with $14.86 million profit in the same quarter a year earlier, Reuters reported.

Nakilat, the world’s largest shipper of liquefied natural gas (LNG), saw its first-quarter profit more than tripling from a year earlier. It said that the company’s earnings per share (EPS) grew to $8 cents versus $2.7 cents in the year-earlier period.

In 2009, Nakilat raised nearly $949 million to fund new ships, the last tranche of a $6.8 billion financing program started in 2006 to fund the building of 25 LNG ships at South Korean shipyards.

Qatar, the world’s leading exporter of LNG, said earlier that it would complete the expansion of its LNG output capacity by September, adding a remaining 15 million tons per year (tpy) to the current capacity of 62 tpy.

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