Enagas posts higher profit

LNG operator Enagás reported full-year 2014 net profit of €406.5Mn, a 0.8% increase on 2013.

In 2014, Enagás invested €625Mn, in line with its goal for the year. Of this amount, 76% was invested internationally.

Enagás entered last year into the Peruvian market with the acquisitions of 20% of Transportadora de Gas del Perú (TgP) and 30% of Compañía Operadora de Gas del Amazonas (COGA) and the award of a 25% stake in the Gasoducto Sur Peruano pipeline project in consortium with Odebrecht.

Total activity of the Spanish gas system (conventional and electricity demand, exports, tanker loading and gas in transit to Portugal) reached 393 TWh in 2014, down 1.4% on 2013 as a result of differences in temperatures, which were exceptionally high during the year, and of the drop in cogeneration with natural gas, Enagás said.

Taking into account the differences in temperature, demand would have increased by around 2% compared to 2013.

Demand for natural gas in transit in the system (exports, tanker loading and gas in transit to Portugal) increased by 40% in 2014. Specifically, loading of LNG tankers at
regasification plants set a new record of 60 TWh, up 89% compared with the previous year. the company added.


Image: Enagás




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