Photo: Image courtesy of Fluxys Belgium - E. Manderlier

Fluxys Belgium profit jumps on record activity

Fluxys Belgium profit jumps on record activity
Image courtesy of Fluxys Belgium – E. Manderlier

Fluxys Belgium, the operator of the Zeebrugge LNG terminal on Wednesday reported a rise in net profit for the first six months of the year 2019. 

The company recorded a net profit of €31.4 million ($34.4 million), which compares to €24.2 million in the corresponding period last year.

The Fluxys Belgium group generated turnover of €260.0 million in the first half of 2019. This represents an increase of €9.9 million compared with the same period in 2018, when turnover stood at €250.1 million.

The change in regulated turnover and net profit is mainly due to the evolution of the different components to be covered by the regulated tariffs, the company said in its report.

As regards LNG terminalling, the regulated return increased because of the expansion investments in transshipment services at the Zeebrugge LNG terminal.

 

Zeebrugge LNG terminal activity hits record highs

 

Fluxys reported record activity at the Zeebrugge LNG terminal during the first half of the year.

The number of ships docking at the Zeebrugge LNG terminal was more than double the number that did so in the first half of 2018: 36 ships came to the terminal to unload their LNG and 10 for transshipment services, while 12 small vessels docked to be loaded with LNG.

In the first half of the year, the volume of natural gas sent out into the transmission system from the terminal was more than three times the level in the first six months of last year.

The commissioning of a second LNG-truck loading station also had a positive impact, with 1,081 trucks being loaded, compared with 650 in the first half of 2018.

May was an all-time record month with no fewer than 13 ships docking at the terminal and 194 trucks loading LNG.

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