The Qatar Gas Transport Company (Nakilat) provides transportation of liquefied natural gas and derivatives. The company owns and operates a fleet of 27 LNG vessels and carriers and 31 vessels in joint ownership, as of 2008.

Nakilat established several joint ventures in Qatar and one to own and operate 29 LNG carriers in the UAE in 2005. In addition, Nakilat established other subsidiaries to privatize the Ras Laffan Port Agency and to provide marine supplies and engineering services as well as docking facilities.

Nakilat formed a strategic alliance in December 2006 with “Shell International Trading and Shipping Company Limited” (STASCO), a vessel owner/operator. Under these terms, STASCO provides a range of shipping services, including ship management and expertise until Nakilat develops its own Qatar-based LNG ship management company, by 2016 to 2020.

The company signed an agreement in March 2007 with Keppel offshore, a ship repair company, to develop jointly, a shipyard facility registered as Nakilat - Keppel Offshore and Marine in the port of Ras Laffan. The first and chief phase of the project, which will consist of repair and conversion of large carriers, will be completed in 2010.

Nakilat’s investments in gas transportation, ship repair and joint ventures reached approximately QAR26.6 billion (USD7.3 billion), by 2007. Nakilat is also adding 25 wholly owned LNG vessels, with an option for two others, to be operational by 2010.

Nakilat underwent an IPO that listed 50% of its shares on the Doha Securities Market and raised QAR2.8 billion (USD769.3 million). Although the company’s operating profits decreased by 12.9% to reach QAR8.5 million (USD2.3 million) in 2007, its net profits increased by 187% to reach QAR128.8 million (USD35.4 million) mainly due to an increase in the company’s total investment income.

Nakilat expects to grow its fleet to 56 LNG vessels by 2010.