Fluxys Belgium profit rises with Zeebrugge LNG activity

Fluxys Belgium profit rises with Zeebrugge LNG activity
Image courtesy of Fluxys Belgium – P. Henderyckx

Fluxys Belgium, the operator of the Zeebrugge LNG terminal on Wednesday reported an increase in net profit as terminal activity increased. 

Net profit for the first half of the year increased from €22.9 million in the first half of 2017 to €24.4 million ($28.5 million).

The Fluxys Belgium group generated a turnover of €250.1 million in the first half of 2018, in line with the €250.7 million generated over the same period in 2017.

Investment during the period reached €52.9 million compared to €36 million during the same period in 2017. Of this amount, €45.4 million went to LNG infrastructure projects, mainly the construction of the fifth LNG storage tank at Zeebrugge LNG terminal, and €6.9 million went to transmission projects.

 

Zeebrugge LNG terminal activity rises

 

Fluxys Group noted that ship traffic for the terminalling of large volumes of LNG at the Zeebrugge terminal rose during the first half of 2018 compared to the same period in 2017.

During the first six months of the year, 13 vessels were unloaded at the facility, compared to 10 in the corresponding period of 2017. Loading remained the same with 11 vessels loaded during the first six months in 2018 as well as 2017.

Truck loadings dropped from 711 in the first half of 2017 to 650 in the period under review.

In May, the terminal rolled out its new service of direct LNG transshipments between two vessels.

The increase in activity seen during the first half of the year continued in July and especially in August, a record month for the terminal in terms of ship traffic.

The facility received six vessels in July completing 3 loading and 3 unloading operations. In August, 12 LNG carriers called at the terminal. The facility performed one transshipment operation, with five unloadings and five loadings.

The number of operations involving the loading of small LNG carriers and LNG trailers remained stable compared to the first half of 2017.

In order to continue efficiently meeting demand for the loading of LNG trailers in the future, the terminal will commission a second loading bay in autumn.

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