Enagas profit climbs 17.6 pct in 2017

Spanish LNG terminal operator, Enagás reported a net profit of 490.8 million euros ($606.6 million) in 2017, a rise of 17.6 percent year-on-year.

This figure includes the accounting impact produced by the full consolidation of GNL Quintero, the Chilean regasification plant,  since January 2017, the Spanish company said.

Standalone net profit was 437.7 million euros, reflecting 5 percent growth on 2016. Enagás says this was in line with the targets set for the year.

The company added that this increase was mainly the result of the contribution from affiliate companies, which accounted for 19.6 percent of the total.

Enagás expects to end 2018 with a net profit of about 443 million euros which, according to the company, is in line with the target set for 2016–2020 of 3 percent average yearly growth.