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QATAR GAS TRANSPORT COMPANY LIMITED (NAKILAT) (QPSC)

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Qatar Gas Transport Nakilat QPSC : Nakilat and Karpowership sign MoU to collaborate in LNG-to-power market & establish JV

10/25/2021 | 01:34am EST

Nakilat and Karpowership sign MoU to collaborate in LNG-to-power market & establish JV

Doha, Qatar, 24 October 2021

Nakilat and Karpowership have signed a Memorandum of Understanding (MoU) to collaborate in the LNG-to-power market and jointly own and operate Floating Storage Regasification Units (FSRUs).

Nakilat's Chief Executive Officer Eng. Abdullah Al-Sulaiti said: "We are very pleased and excited to sign this agreement with Karpowership today. This fits very well with Nakilat's long-term growth plan to expand and diversify our shipping portfolio and strengthens our position as a global leader in the energy transportation sector."

Karpowership's Chief Executive Officer Mr. Orhan Remzi Karadeniz said: "We are very excited to be working with Nakilat as this will enhance our ability to offer a one stop shop tailor-made solution to our customers through our integrated business model where we design, develop, engineer and construct our entire assets. FSRUs together with Powerships deliver energy to any country around the world, by utilizing a cleaner and more reliable fuel than many existing options".

The MoU outlines an ambitious plan for the immediate future. Nakilat and Karpowership hope to set up a new joint venture and deliver the first FSRU by 2023.

Disclaimer

Qatar Gas Transport Co. Ltd. QPSC published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 05:33:09 UTC.


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Financials
Sales 2021 3 734 M 1 026 M 1 026 M
Net income 2021 1 346 M 370 M 370 M
Net Debt 2021 18 146 M 4 985 M 4 985 M
P/E ratio 2021 14,9x
Yield 2021 3,31%
Capitalization 20 050 M 5 508 M 5 508 M
EV / Sales 2021 10,2x
EV / Sales 2022 10,0x
Nbr of Employees -
Free-Float 49,6%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 3,62 QAR
Average target price 3,42 QAR
Spread / Average Target -5,41%
EPS Revisions
Managers and Directors
Abdullah Fadhalah Al-Sulaiti Chief Executive Officer
Hani Abu Aker Chief Financial Officer
Mohammed bin Saleh Al-Sada Chairman
Rashid Hamad Al-Marri Chief Administrative Officer
Essa bin Hilal Al-Kuwari Independent Director