Enagás profit jumps on GNL Quintero contribution

Enagás profit jumps on GNL Quintero contribution
Image courtesy of Enagás

Spanish LNG terminal operator, Enagás reported a net profit of €375.7 million ($420.5 million) for the first nine months of this financial year.

This figure includes the accounting impact of the Quintero LNG plant since January 2017, resulting in an increase of 18.4 percent from the same period last year.

In the first nine months of the year, Enagás invested a net sum of €252.8 million in projects underway.


Spanish natural gas demand up


The demand for natural gas in Spain rose by 9.3 percent until September 30 in relation to the same period last year.

This increase was driven by continued growth in demand from the industrial sector, which represents 60 percent of total demand for natural gas and which has grown by 4.5 percent, and by demand from the electricity sector, which has risen by 33.2 percent owing to lower hydroelectricity and wind power generation and greater demand for power.

Demand for natural gas in Spain is expected to grow by about 4.5 percent by the end of the year, exceeding the first-quarter forecast.

1 EUR = 1.17553 USD

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Posted on October 17, 2017 with tags .


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