LNG

March 29 (LNGJ) - Fluxys Belgium, the operator of the Zeebrugge LNG import terminal and natural gas assets, reported a drop in 2023 revenues in its regulated business to €592.7 million ($640.2M) from €912.5M in the previous year. “This change is in line with the tariff methodology,” said Fluxys. Net profits declined in the year to December 2023 to €77.4M from €83.7M. “Throughout the year all our teams did everything they could to support security of supply in North-West Europe,” said Fluxys.

   “The geopolitical situation resulting from the war in Ukraine has profoundly changed the dynamics of the gas markets and the direction of flows in Europe. In addition to supplying Belgium, suppliers continued to carry large quantities of natural gas to the Netherlands and Germany via the Belgian grid,” the company added. “We reinforced the Zeebrugge-Brussels corridor with an additional pipeline to carry more natural gas inland from Zeebrugge while maintaining high flows to neighbouring countries,” Fluxys stated.

Fluxys Belgium, the national gas grid company and operator of the Zeebrugge LNG import terminal, increased regulated revenues while net profits fell and said its infrastructure was used particularly intensively by customers to support security of supply in Germany and the Netherlands.

Fluxys Belgium, the operator of gas infrastructure including the Zeebrugge LNG import terminal, has given the go-ahead for the construction of a new pipeline between Desteldonk and Opwijk in Belgium to improve west-to-east gas flows in the European Union.

Fluxys, the Belgian gas grid and LNG terminal owner, reported annual increased consolidated turnover of €573.2 million ($638.3M) and more shipping traffic and truck-loadings as expansion plans progressed.

Fluxys Belgium, the gas transmission and Zeebrugge liquefied natural gas import terminal operator, posted increased first-half net profits as ship traffic remained strong and truck-trailer LNG loadings almost doubled.