Dutch utility Gasunie sees profits and revenues plunge in over-regulated European Union natural gas markets
Dutch utility Gasunie, whose network and assets include over 17,000 kilometres of pipelines in the Netherlands and Germany as well as stakes in Dutch and German LNG import facilities, reported a plunge in first-half earnings as the Dutch continued to show dependence on LNG amid the green obsessions and over-regulation of the European Union.
Gasunie pipeline moves
April 15 (LNGJ) - Gasunie, the Dutch utility and LNG terminals owner, said it was concluding new 10-year framework agreements with a selection of six contractors for the maintenance and management of existing natural gas pipelines and the construction of new pipelines for hydrogen, green gas and carbon-dioxide. “The energy transition leads to many new projects, where maintenance of existing infrastructure also remains crucial. The agreement includes maximum investments of around €4 billion ($4.25Bln) spread over a period of 10 years,” Gasunie explained.
Janneke Hermes, Chief Financial Officer of Gasunie, said the agreement included “a new working method” that focuses on strategic partnership in the light of the energy transition. “We will invest large-scale in our core activity, the transport of energy, in the coming years,” Hermes added. “The focus of the investments is on maintaining a safe and reliable gas network,” she stated.
Dutch parliament told natural gas storage levels ‘concerning’ as benchmark price hits $39 per MMBtu
A Dutch parliamentary committee has been told that natural gas storage levels in the Netherlands were well short of capacity and the situation is a matter of concern, though not considered a crisis.
