* Q3 net 181.4 mln riyals vs 243.6 mln yr-ago
* One analyst forecast earnings of 207.8 mln riyals
* 9-mth net profit 562 mln riyals vs 624.8 mln riyals yr-ago
DOHA, Oct 22 Qatar Gas Transport Co
(Nakilat), the world's largest shipper of liquefied natural gas
(LNG), posted a 25.5-percent drop in its third-quarter earnings
on Monday, Reuters calculations show, missing the forecast of
The company reported a third-quarter net profit of 181.4
million riyals ($49.8 million), according to Reuters
calculations, compared with 243.6 million riyals in the same
period last year.
One analyst forecast a quarterly profit of 207.78 million
riyals, in a Reuters poll.
Reuters calculated quarterly net profit from previous
financial statements. Nakilat reported a 9-month net profit of
562 million riyals, compared with 624.8 million riyals a year
ago, according to a statement posted on the bourse website,
without providing further detail.
The company said in July it made a first-half net profit of
380.6 million riyals after a 4.6 million riyal loss on a
derivative instrument from a joint venture.
Nakilat said last year that a decision on whether to convert
45 of its largest tankers to burn natural gas instead of oil
continued to be under consideration but would not affect the
It is expected to approve a $1 billion overhaul of the
tankers, prompted by an unexpected fall in natural gas prices
against the price of oil in recent years, senior industry
sources told Reuters last year. The work would take place
Nakilat shares have fallen 10 percent year-to-date on the
($1=3.638 Qatari riyals)
(Reporting By Regan Doherty, Editing by Dinesh Nair)