LNG

French utility and LNG market participant Engie reported a more than 60 percent surge in revenues, though real net income plunged and the company said it was going ahead with an arbitration procedure against Russia’s Gazprom.

Engie, the France-based European utility company, reported an annual profit of €3.7 billion ($4.2Bln) compared with a loss of €1.5Bln in 2020 as the natural gas and power network businesses improved and nuclear turned a profit while renewables were disappointing given the amount of investment and promotion.