Fluxys Belgium: 46 LNG Carriers Unloaded at Zeebrugge in 2012

Fluxys Belgium said that it has unloaded 46 LNG carriers at the Zeebrugge terminal in 2012, compared with 70 in 2011.

Since all the capacity at the terminal is subscribed through long-term contracts, the number of unloadings has not affected the group’s financial results.

High LNG prices in Asia drove up demand for loading services in 2012: 25 LNG carriers berthed for loading, compared with 10 the previous year. They loaded some 1.3 million tonnes of LNG.

Fluxys Belgium increased its total sales figures in 2012 thanks to sales of additional short-term transmission capacity and intense use of loading services at the LNG terminal.

The net profit for 2012 was €88.8 million, a drop of €33.3 million compared with 2011.

This decrease is due to the pay-out of available reserves in 2012 and the historically low interest rates, both of which are decisive factors in determining the net profit from regulated activities.

Nonetheless, the profit still yields a net dividend of €1.20 per share.

Walter Peeraer, CEO: “I am very proud of what the men and women at Fluxys Belgium have achieved in 2012 and am pleased to report an increase in the capacity sold as well as a decrease in our transmission tariffs in October when the new entry/exit market model was launched. In addition, our €106 million of investments enabled us to strengthen Belgium’s security of natural gas supply and consolidate our country’s role as a crossroads for large-scale gas flows.”

[mappress]

LNG World News Staff, March 22, 2013