News

Nakilat held its Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) today, chaired by His Excellency Dr. Mohammed bin Saleh Al Sada, the Chairman of Nakilat’s Board of Directors.

During the EGM which held electronically using Zoom application, all items on the agenda were approved.

During the AGM held electronically using Zoom application, the Group discussed the consolidated earnings results with a net profit of QR 1,354 million in 2021, an increase of 16.7%. All items on the agenda were also approved during the AGM.

Following an overview of the Nakilat’s activities and financial results in 2021, the Chairman commended the company for staying resilient throughout the ongoing pandemic. This steadfast commitment to operational excellence has ensured business continuity and value creation for its shareholders and customers, as Nakilat steers ahead with its vision to be the global leader in LNG transportation whilst contributing towards the development of Qatar’s shipping and maritime industry.

The company followed through its expansion plans with the addition of two technologically advanced LNG carrier newbuilds during the past year, demonstrating commitment to innovation, sustainability, and operational excellence. This allowed Nakilat to provide greater fleet capacity and flexibility to its customers and gave the company a significant competitive advantage in the energy transportation sector. Moreover, this contributed towards the company’s efforts at reducing its carbon footprint and operating sustainably apace growing its international shipping portfolio.

Climate change was a topic of much discussion in the industry in 2021, one that closely aligned with Nakilat’s core values and mission to protect the environment. Nakilat was proud to launch its inaugural Environmental, Social, and Governance (ESG) Report, which complements the company’s efforts at operating transparently and responsibly. The report highlighted the various ways in which Nakilat was enabling sustainable growth across its operations to positively impact its people, the community and environment.

Nakilat Chief Executive Officer Eng. Abdullah Fadhalah Al Sulaiti said: “Nakilat continued to demonstrate great resilience, as reflected in our operational and financial performance for the year. Our outstanding financial performance in 2021 is a testament to our concerted efforts. Despite the sudden adjustment to enhanced health and safety protocols, Nakilat managed to ensure seamless continuity of its operations, primarily due to the company-wide digital transformation that had taken place over the past few years. We have done significant upgrades to our digital infrastructures, systems enhancements and other security features at all worksites, including onboard our vessels, as part of our risk management and business continuity preparedness. Amid the challenging business landscape, Nakilat remained steadfast in executing our strategies, sustaining operational efficiencies while ensuring fiscal discipline across all our shipping and maritime operations.”

Nakilat’s Board of Directors expressed their appreciation to all relevant authorities, including QatarEnergy for its ongoing support of Nakilat’s activities, to QE Industrial Cities for its co-operation with the Erhama Bin Jaber Al Jalahma Shipyard, and strategic partner and long-term charterer Qatargas in playing a significant role to ensure Nakilat’s robust financial performance. The Board also extended their appreciation to all of Nakilat’s partners, shareholders, management, employees and seafarers for their continued dedication and support in 2021. On a final note, the Board of Directors extended their best wishes to all parties including the new board members elected in 2022.