Despite the disruption to maritime traffic in the Strait of Hormuz caused by US-Israeli military actions against Iran, Nakilat—one of the world's largest LNG operators—achieved a net profit of approximately $120 million for the first quarter of 2026, representing a year-on-year increase of 1.4 percent .

Specifically, Nakilat disclosed that net profit for the first quarter of 2026 stood at $120 million, modestly exceeding the $118 million recorded in the first quarter of 2025 and the $102 million reported in the fourth quarter of 2025.

Nakilat attributed this steady performance to its portfolio of long-term, high-quality charter contracts, which insulate the company's earnings trajectory from near-term market volatility.

Abdullah Al-Sulaiti, Chief Executive Officer of Nakilat, stated that despite prevailing geopolitical headwinds, the company has successfully maintained its operational performance. He noted that Nakilat enacted "immediate and effective measures to rationalize expenditures and mitigate adverse impacts across its various business units." These measures have resulted in notably reduced operating costs, particularly in areas such as dry-docking, agency services, and towage operations.

Qatar's geographic position within the Persian Gulf necessitates that the vast majority of its seaborne trade with global markets transits the Strait of Hormuz—a waterway that has experienced significant disruption since the onset of US-Israeli military operations against Iran on February 28. Furthermore, Qatar's liquefied natural gas infrastructure has been identified as a potential target of regional attacks.

Upon the completion of an ambitious newbuilding program, Nakilat's fleet is projected to expand to 112 vessels, comprising 27 conventional LNG carriers, 9 QC-Max class LNG carriers, and 4 LPG/ammonia carriers. The company's current operational fleet consists of 72 vessels, of which 69 are LNG carriers.