Fluxys’ turnover down 0.9 pct

Fluxys Belgium, operator of the Zeebrugge LNG terminal, said its turnover totalled €399.7 million as of late September 2014, compared to €403.5 million1 for the same period in 2013, a decrease of €3.8 million or 0.9%.

The turnover for regulated activities was slightly down compared with the first nine months of 2013 owing to fewer short-term sales opportunities and the impact of lower OLO interest rates on tariff settlements, the company said in a statement.

Investments worth €55.8 million made between January and September 2014

In 2014, the budget for planned investments in infrastructures amounts to €95 million. As of end September 2014, investment expenditure totaled approximately €55.8 million. The largest projects are:

• A second jetty for loading and unloading LNG carriers is currently under construction at the LNG terminal. Ships with capacities ranging from 2,000 to 217,000 m³ of LNG will be able to berth at this new jetty from 2015, including so-called bunker ships which load LNG to supply other vessels fueled by LNG;
• Fluxys Belgium has begun to restructure and renovate its pipeline grid in and around Ghent with a view to being able to continue to efficiently supply the region;
• The necessary preparations for the construction of the Alveringem-Maldegem pipeline (the Belgian section of the Dunkirk-Zeebrugge cross-border pipeline) are underway, meaning that work on laying the pipeline can begin in spring 2015, with the pipeline itself being commissioned in parallel with the Dunkirk LNG terminal.

Changes to the composition of corporate bodies

On the Board of Directors, Eric Lachance and Renaud Moens have been co-opted as Directors effective as of 24 September. Their definitive appointment is on the agenda for the next general meeting.

Fluxys Belgium’s Board of Directors has decided that, as of 1 January 2015, Pascal De Buck will succeed Walter Peeraer as the new Chairman of the Executive Board, the company’s executive body. Pascal De Buck will take on the role of Chief Executive Officer of the company. He is currently member of the Executive Board and General Director Commercial of Fluxys Belgium, and he is also Director Business Development & Strategy at Group level.

[mappress mapid=”15977″]

Press Release; Image: Fluxys