Qatar Gas Transport

What Qatar Gas Transport does

Qatar Gas Transport Company Q.P.S.C. (Nakilat) is a Doha-headquartered, publicly listed (Qatar Stock Exchange: QGTS) maritime energy transportation company founded in 2004 by the State of Qatar to serve as the country's national LNG shipping arm. It operates the world's largest LNG carrier fleet — 69 LNG carriers (24 conventional at 145,000-170,000 cbm, 31 Q-Flex at 210,000-217,000 cbm, and 14 Q-Max at 263,000-266,000 cbm), 2 LPG carriers, and 1 FSRU — with combined carrying capacity above 9 million cubic meters representing approximately 12% of global LNG shipping capacity. The fleet is set to expand to 112 vessels through ongoing construction in South Korean shipyards. Vessels are equipped with advanced satellite connectivity and remote troubleshooting systems enabling 24/7 monitoring, and the company reports 99.6% operational reliability and 95.3% customer satisfaction in 2025.

The company generates revenue primarily through long-term time charter agreements with QatarEnergy and its affiliates for the majority of its LNG fleet, with the remainder deployed in global spot shipping markets. Charter rates and maritime service pricing are negotiated on a per-vessel, per-service basis under multi-year contracts. Beyond core LNG transportation, Nakilat delivers a fully integrated maritime services portfolio through wholly-owned subsidiaries and joint ventures: Qatar Shipyard Technology Solutions (QSTS) for ship repair and offshore construction, Qatar Fabrication Company (QFAB, 60% owned) for offshore/onshore fabrication, Nakilat SvitzerWijsmuller (NSW, 70% owned with Maersk's Svitzer) for towage, Nakilat Agency Company (NAC, 95% owned) for shipping agency services, and the Vessel Support Unit (VSU) for chandlery and logistics.

Nakilat is jointly owned in vessels with a global consortium of shipping majors including Maran Gas, Teekay, NYK Line, MOL, K-Line, OSG, Shell STASCO, Pronav, SCI, and Excelerate Energy (FSRU), and operates from headquarters in Doha (The Pearl Qatar) with major facilities at the Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City and an agency office in Mesaieed. For FY2025 it reported net profit of QAR 1.69 billion (up 3.1% YoY), Q1 2026 net profit of QAR 439 million, and operates with investment-grade credit ratings (Moody's Aa3/A1, S&P AA-/A+, Fitch AA-/A+ all stable).

Name

Qatar Gas Transport

Legal name

Qatar Gas Transport Company Q.P.S.C.

Website

https://nakilat.com

Company type

Public

Founded year

2004

Operating status

Operating

Ownership category

akta.pro rank

Product category

LNG Shipping and Maritime Transportation Services

SIC

Deep Sea Foreign Transportation Of Freight (4412)

akta.pro primary industry

Liquefied Gas Transport (LNG/LPG/Ammonia) (TLADALAC)

akta.pro secondary industry

Marine Terminals & Port Storage (Jetties, Docking, Bunkering Interfaces) (EUALAEAG)

Keywords

• LNG carrier shipping
• Maritime transportation services
• Ship repair shipyard
• Offshore fabrication services
• Towage marine support

Headquarters

HQ city

Doha

HQ country

Qatar

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales, Others

Revenue model

1. LNG Transportation (Time Charter): Most of Nakilat's LNG vessels are employed through long-term time charters, primarily with QatarEnergy and its affiliates. Long-term charter agreements provide stable, recurring revenue. A portion of the fleet is deployed in global shipping spot markets.
2. Ship Repair and Offshore Construction Services: Nakilat provides comprehensive ship repair, onshore and offshore fabrication services through its subsidiary Qatar Shipyard Technology Solutions (QSTS) and joint venture Qatar Fabrication Company (QFAB) at the Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City. Revenue is generated from dry docking, repairs, conversion, and fabrication services for marine vessels and offshore structures.
3. Shipping Agency Services: Nakilat Agency Company (NAC), 95% owned by Nakilat, provides port agency services to all Qatari ports and terminals. Services include agency and logistics support, customs formalities, husbandry services, bunker coordination, crew change, and drydocking support.
4. Towage and Marine Support Services: Nakilat SvitzerWijsmuller (NSW), a joint venture 70% owned by Nakilat, operates 26 vessels (25 owned) including tugboats, pilot boats, and line boats, providing towage, vessel escort, berthing assistance, pilot support, line handling, emergency response, and marine maintenance support services at Ras Laffan Port and offshore fields.
5. Vessel Support Unit (Chandlery and Logistics): Nakilat's VSU offers chandlery services (materials and consumables supplies), storage facilities (including dehumidified and climate-controlled storage), logistics and customs clearance services, and maritime service support for vessels in Qatari waters, operating 24/7.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

Qatar Gas Transport (Nakilat) is a shipping and maritime company that owns and operates the world's largest LNG carrier fleet (69 LNG carriers, 2 LPG carriers, and 1 FSRU) to transport liquefied natural gas globally under long-term time charter contracts and spot market deployments. The company also provides comprehensive maritime services including ship repair and dry docking, offshore and onshore fabrication, towage, shipping agency, and vessel support (chandlery and logistics) through wholly-owned subsidiaries and joint ventures at the Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan, Qatar.

Product overview

Nakilat is a shipping and maritime company offering a comprehensive portfolio of energy transportation and maritime services. The core offering is LNG carrier transportation via the world's largest LNG fleet (69 vessels), including Q-Max (263,000-266,000 cbm), Q-Flex (210,000-217,000 cbm), and conventional carriers (145,000-170,000 cbm), complemented by LPG carriers and FSRU. The maritime services suite includes ship repair (through Qatar Shipyard Technology Solutions), offshore/onshore fabrication (through QFAB), towage (through NSW joint venture), shipping agency (through NAC), and vessel support services (VSU). The fleet will expand to 112 vessels upon completion of current construction projects.

Differentiator

Problem solved

Functional benefit

Products and services

• LNG Carrier Transportation Maritime transportation of liquefied natural gas (LNG) via the world's largest LNG carrier fleet, comprising 24 conventional carriers (145,000-170,000 cbm), 31 Q-Flex carriers (210,000-217,000 cbm), and 14 Q-Max carriers (263,000-266,000 cbm), serving QatarEnergy and international charterers.
• LPG Carrier Transportation Maritime transportation of liquefied petroleum gas (LPG) via very large gas carriers (VLGCs), with vessels jointly owned with Milaha — Qatar Navigation.
• FSRU (Floating Storage Regasification Unit) Operations

Quantifiable outcome

• 99.6% operational reliability rate achieved in 2025
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Qatar Fabrication Company (QFAB) — Strategic Joint VenturecoreStrategic or Co-development Partner · 1 January 2019Established in 2019, Qatar Fabrication Company (QFAB) is a Qatari joint venture 60% owned by Nakilat and 40% by partners. QFAB delivers offshore and onshore energy industry facilities fabrication, construction, and assembly services from the Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan.
• Maran Gas (Greece)coreStrategic or Co-development PartnerNakilat jointly owns multiple LNG carriers with Maran Gas (Greece), one of the world's leading independent LNG shipping companies. Vessels jointly owned include conventional, Q-Flex, and Q-Max LNG carriers operated under long-term charters and in shipping markets.
• Teekay Shipping Corporation (Canada)coreStrategic or Co-development PartnerNakilat jointly owns LNG carriers with Teekay Shipping Corporation. Vessel Al Marouna (149,539 cbm) and Al Daayen (148,853 cbm) are jointly owned and operated.
• Shell International Trading and Shipping Company Ltd. (STASCO)coreStrategic or Co-development PartnerShell STASCO is the ship manager for several Nakilat vessels including Q-Max carrier Al Rekayyat. The partnership provides access to Shell's global LNG shipping network and operational expertise.
• NYK Line — Nippon Yusen Kaisha (Japan)coreStrategic or Co-development PartnerNakilat jointly owns vessels with NYK Line. Vessels including Ejnan (145,000 cbm conventional) are jointly owned with NYK and operated in the LNG shipping market.
• Mitsui O.S.K. Lines (MOL) (Japan)coreStrategic or Co-development PartnerNakilat jointly owns Q-Flex LNG carriers with MOL including Murwab (210,100 cbm) and others, serving long-term charters and global shipping markets.
• K-Line — Kawasaki Kisen Kaisha (Japan)coreStrategic or Co-development PartnerNakilat jointly owns Q-Flex LNG carriers with K-Line including Umm Al Amad (210,200 cbm), serving charter contracts and spot markets.
• Overseas Shipholding Group (OSG) (USA)coreStrategic or Co-development PartnerNakilat jointly owns LNG carriers with OSG. Vessels including Al Thumama, Al Sahla, and Al Ghatara are jointly operated under the partnership.
• Pronav (Germany)coreStrategic or Co-development PartnerNakilat jointly owns LNG carriers with Pronav. Vessels including Al Shamal, Al Khuwaira, Al Huwaila, Duhail, Al Safliya, and Al Ruwais are jointly owned.
• Svitzer Middle East Limited / A.P. Moller (Maersk) (Denmark)coreStrategic or Co-development PartnerNakilat SvitzerWijsmuller (NSW) is a joint venture 70% owned by Nakilat and 30% by Svitzer Middle East Limited, part of A.P. Moller (Maersk). NSW operates 26 vessels providing towage, escort, berthing, and marine support services at Ras Laffan and offshore fields.
• Excelerate Energy (USA)coreStrategic or Co-development PartnerNakilat jointly owns the FSRU (Floating Storage Regasification Unit) vessel with Excelerate Energy (USA), with Nakilat holding a majority stake. The FSRU has a capacity of 150,900 cbm.
• Shipping Corporation of India (SCI)minorStrategic or Co-development PartnerNakilat jointly owns vessel Aseem (155,003 cbm conventional LNG carrier) with the Shipping Corporation of India (SCI). Ship management handled by SCI.
• QatarEnergy (Qatar)coreStrategic or Co-development PartnerQatarEnergy is Nakilat's primary charterer and a 5% shareholder in Nakilat Agency Company (NAC). QatarEnergy appointed NAC as the exclusive port agent in Ras Laffan and Mesaieed under the Qatar Energy Port Agency Shipping License. Nakilat was strategically established in 2004 to support Qatar's ambition of becoming the world's largest LNG exporter.
• HD Hyundai Samho Heavy Industries (HSHI) (South Korea)coreStrategic or Co-development PartnerNakilat is constructing vessels at HD Hyundai Samho Heavy Industries shipyard in South Korea, including 2 LNG vessels and 4 LPG/ammonia vessels, all of which will be wholly owned by Nakilat. Steel cutting ceremony for 25 LNG vessels also held at South Korean shipyards.
• Milaha — Qatar Navigation (Qatar)coreStrategic or Co-development PartnerNakilat jointly owns 2 very large gas carriers (VLGCs) for LPG transportation with Milaha — Qatar Navigation. Vessels Lubara, Bu Sidra, Al Wukir, and others are jointly owned.

Scale indicators14 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Dynagas LNG Partners: Dynagas LNG Partners operates a fleet of LNG carriers on multi-year time charters to international energy companies, with a comparable scale and business model to Nakilat's long-term chartered LNG fleet. Listed LP structure provides a public-market comparable for LNG carrier cash flows.
• Mitsui O.S.K. Lines (MOL): MOL is a major Japanese shipping conglomerate and one of the world's largest LNG carrier operators, with a fleet that includes Q-Flex-class vessels jointly owned with Nakilat. The two companies are direct LNG shipping peers, JV partners, and competitive counterparts in global LNG tonnage supply.
• Golar LNG: Golar LNG owns and operates LNG carriers and FSRUs globally, with a particular specialization in floating storage regasification that overlaps directly with Nakilat's FSRU business (jointly owned with Excelerate Energy). Publicly listed and provides a clean read on FSRU/LNG carrier economics relevant to a portion of Nakilat's fleet.
• Flex LNG: Flex LNG operates a modern fleet of large-scale LNG carriers (including vessels comparable to Q-Flex specifications) under multi-year time charters. Listed on Oslo Børs, it provides a pure-play equity comparable for the modern LNG carrier business model that mirrors Nakilat's chartering revenue model.
• MISC Berhad: MISC Berhad is the Malaysian national shipping company and one of the largest LNG carrier operators globally, with a fleet comparable in scale to Nakilat's and serving Petronas and other international LNG charterers. Publicly listed, offers a directly comparable equity reference for the LNG shipping business model.
• NYK Line: NYK Line is a Japanese shipping conglomerate with one of the world's largest LNG carrier fleets, including conventional and large-scale vessels jointly owned with Nakilat. NYK competes with Nakilat in global LNG shipping markets while simultaneously serving as a JV partner on specific vessels.
• Höegh LNG: Höegh LNG (now part of Höegh Evi after the 2023 Caravel combination) operates LNG carriers and FSRUs globally with a long-term charter business model. Comparable to Nakilat across both LNG transportation and FSRU activities, including joint venture structures with energy majors.
• GasLog Partners: GasLog (now BlackRock-owned) operated a fleet of large LNG carriers under multi-year time charters to energy majors — a business model directly parallel to Nakilat's contracted LNG fleet. Historically a key public-market comparable for long-term LNG charter economics.
• BW LNG: BW LNG is the LNG shipping arm of BW Group and one of the world's largest independent owners of LNG carriers, operating a comparable fleet of modern large-scale vessels under long-term and spot charters to international energy majors. Operates in exactly the same maritime LNG transportation market segment as Nakilat and is the closest pure-play comparable.
• Teekay LNG Partners: Teekay LNG (now private after Stonepeak acquisition) historically operated one of the largest publicly listed LNG carrier fleets, with vessels including conventional carriers jointly owned with Nakilat (Al Marouna, Al Daayen). Provides a close historical and ongoing comparable for diversified LNG carrier operations under long-term charters.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Qatar Gas Transport