Enagas net profit climbs

Enagás of Spain reported net profit for the first nine months of 2014 of €308.1Mn, a 1.5% increase on the year ago figure.

International acquisitions

Enagás invested €450Mn in the first nine months of the year and consequently has already met its investment target for the year.

During the third quarter, Enagás acquired a 16% stake in the company developing the Trans Adriatic Pipeline (TAP) project. This pipeline, which is critical to integrating the European gas market, was named a Project of Common Interest (PCI) by the European Union. Also, the consortium comprising Enagás (25%) and Odebrecht (75%) was awarded contract to build the South Peru Gas Pipeline. 

Operating highlights

Total demand for gas transmitted in the Spanish system amounted to 289,028 GWh in the first nine months of the year, similar to the same period in 2013.

Demand for natural gas in transit in the system (exports, tanker loading and gas in transit to Portugal) grew 42.9% in the first nine months, thanks to increases in tanker loading and gas in transit to Portugal.

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