Spanish gas grid and LNG terminals operator Enagás reports fall in profits as it helps EU gas system
Enagás, Spain’s natural gas grid and LNG network operator, reported slight declines in 2022 net profits and revenues after a year of high volatility in the energy markets with the Spanish Gas System operating without halt and Enagás infrastructure helping maintain the security of supply of the European Union.
Italian energy company and LNG player Eni acquires Spanish utility to expand into Iberian Peninsula
Italian energy company Eni, one of the leading LNG market participants, has completed an acquisition enabling it to enter the utility market in the Iberian Peninsula of Spain and Portugal.
Spain gas demand up
Dec 31 (LNGJ) - Natural gas consumption in Spain, the largest European importer of US LNG cargoes, grew by 3.4 percent in December compared with the same month in 2019. “Specifically, conventional demand, for household, commercial and industrial consumption, grew compared to December of the previous year, reaching 29.7 terawatt hours,” said Enagás, the gas grid network and LNG import terminal operator. “This increase was driven by a recovery in industrial demand with regard to the values reached during the lockdown months in addition to the cold temperatures at the end of the month,” the company added.
Demand for natural gas in Spain for all of 2020 was heading for 360.0 TWh, which is 3.1 percent more than the figure recorded in 2018. “Compared to 2019, when demand grew exceptionally (up 14 percent) due to high deliveries of natural gas for electricity generation, total demand is around 90.4 percent,” added Enagás.
Network and LNG operator Enagas reports surge in Spanish natural gas use to 10-year high
Enagas, the Spanish natural gas network owner and operator of LNG terminals, posted 2.3 percent higher nine-month net profits of 333.1 million euros ($371M) as demand for natural gas in Spain reached its highest level in 10 years.
Enagas reports profit
July 17 (LNGJ) - Enagas, the Spanish natural gas network and LNG terminal operator, posted a net profit for the first-half of 219.8 million euros ($258M), a slight rise of 1 percent on the same period of 2017. The company reported that demand for natural gas in Spain grew by 5.9 percent in the first six months of 2018. “This growth is mainly due to the positive evolution of conventional demand, which rose by 7.8 percent as the consequence of lower-than-normal temperatures at the start of the year,” said Enagas. During the first-half, Enagas noted that it invested the equivalent of $120M in the Trans-Adriatic Pipeline (TAP) in which it holds a 16 percent stake.
