Reuters reported that Q3 profit at Qatar Gas Transport soared 50.4% but still trailed analyst’s forecasts as it ramps up delivery capacity.

As per report, profit at Nakilat which carries LNG to countries as far as China, Spain and the United States rose to QAR 172.2 million up from 114.5 million YoY.

Nomura International forecast an average quarterly profit of QAR 182 million and EFG Hermes predicted QAR 237 million. The company reported 9 month profit of QAR 502.1 million up from QAR 348.2 million in 2009 while H1 was QAR 329.9 million.

Nakilat began USD 6.8 billion financing program in 2006 to fund construction of 25 LNG ships at South Korean shipyards. The company plans to complete a fleet of more than 50 owned and part owned special LNG carrier vessels this year, giving it over 16% of the world's LNG shipping fleet. It expects to account for over 30% of global LNG supply by 2011.

(Sourced from Reuters)