LNG

May 12 (LNGJ) - Gas Natural Fenosa, the Barcelona-based Spanish utility with varied LNG and natural gas assets, posted first-quarter net profit of 298 million euros ($323M) in the first quarter, down 8.3 percent from the same period in 2016. Gross earnings fell 5.3 percent to 1.10 billion euros ($1.2Bln) in the same three months of last year. Natural gas distribution accounts for 35.6 percent of the consolidated total revenue and declined by 4.2 percent for the quarter year-on-year. Among its LNG activities, GNF said it had plans for a floating storage and regasification unit project and small-scale distribution. It also reached a bunkering agreement with Balearia, a leading Spanish shipping company in the Mediterranean, to supply LNG fuel for its ferries.