Enagás’ profit edges up, Spanish gas demand grows

Enagás' profit edges up, Spanish gas demand grows
Image courtesy of Enagás

Spanish LNG terminal operator, Enagás reported a net profit of €103.9 million ($126.8 million) for the first quarter of 2018, edging out the 2017 result by 1 percent. 

The company attributed the growth in the period to a stricter control of operating and financial expenses, and affiliates’ contribution, which accounts for more than 19 percent of net profit.

In the first quarter of 2018, Enagás invested a total of €42 million in assets in which the company already had a presence. Of this figure, approximately €35 million were for the construction of the Trans Adriatic Pipeline (TAP), a project in which Enagás holds a 16 percent stake.

At the closing of the first quarter, construction was about 70 percent complete with the operational start-up of this infrastructure planned for 2020.

Enagás added that its partnership with Snam and Fluxys, both partners in the TAP project, were awarded the tender to acquire 66 percent DESFA, operator of the Greek gas grid and country’s only LNG terminal on the island of Revithoussa.

Reflecting on the gas demand in Spain, Enagás said it grew by 5.2 percent during the quarter under review compared to the corresponding period last year.

This growth was mainly the result of the conventional demand, which grew by 6.5 percent due to low temperatures and the increase in industrial consumption, in line with the positive evolution of the Spanish economy.

Total demand for natural gas in Spain for the year to date has been growing by more than 7 percent, the company’s statement reads.

Share this article

Follow LNG World News

Posted on April 24, 2018 with tags .


<< Sep 2019 >>
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >