Enagas net profit inches up

Spanish LNG terminal operator, Enagás posted a net profit of €214 million ($237 million) in the first half of this year, 0.5% higher than the figure recorded for the same period last year.

This increase was mainly due to the acquisitions of the Sagunto and Bilbao regasification plants as well as Swedegas, the Swedish gas operator, Enagás said on Tuesday.

During the first six months of the year, the company invested a total of €193.1 million. Of this amount, €30.1 million corresponded to investments in Spain, while €163 million accounted for ongoing international projects, the company said.

Gas demand

According to Enagás, natural gas demand  in Spain for domestic-commercial and industrial consumption grew by 1.3% on year.

The main reason for this increase was the 2% growth in demand for gas in industry, the LNG operator said.

The demand for natural gas in Spain reached 158.9 TWh in total over the first six months of the year.

1 Euro = 1.106725 U.S. dollars