LNG

April 24 (LNGJ) - Enagas, the Spanish natural gas network and LNG import terminal operator, posted a first-quarter net profit of 103.9 million euros ($126.7M), a rise of 1 percent compared with the same three months of 2017. The company said its performance was mainly due to two factors, control of operating and financial expenses and positive performances by affiliates. “Demand for natural gas in Spain grew by 5.2 percent in the first quarter,” said Enagas. “Total demand for the year to date was more than 7 percent,” added the company. Enagas continued to invest in European projects, including construction of the Trans Adriatic Pipeline in which it holds a 16 percent stake. The pipeline construction was about 70 percent complete and the start-up is scheduled for 2020.