Reuters reported that Qatar Gas Transport Company Q1 profit more than tripled.

Nakilat reported Q1 profit of QAR 163.4 million compared with QAR 54.1 million in the Q1 of 2009. The company reported earnings per Share of QAR 0.29 versus QAR 0.10 in the year earlier period.

Last year, Nakilat raised USD 949 million to fund new ships, the last tranche of a USD 6.8 billion financing program begun in 2006 to fund the building of 25 LNG ships at South Korean shipyards.

Qatar said that it would complete the expansion of its LNG production capacity by September, adding a remaining 15 million tonnes per year to existing capacity of 62 tonnes per year.

(Sourced from Reuters)