Gas infrastructure operator Enagas confirms first half figures down on 2020

ON July 27, gas infrastructure operator Enagas confirms first half figures down on 2020 at €213.1 million compared to €236 million.

In an 11-page document it explained that its subsidiaries and its efficiency plan were paying off, helping to meet the 2021-2026 regulatory framework, which came into effect in January of this year.

Two main subsidiaries, Tallgrass Energy in the USA and the Trans Adriatic Pipeline (TAP) which started last November – have generated 48.1 per more to overall income than in the same period in 2020 due to new efficiency plans, expenditure has been cut by 5.3 per cent.

This allowed Enagas to pay shareholders a final dividend of €1 higher dividend and to retain more €3 billion in cash assets and undrawn lines of credit.

It confirmed that Spanish gas sales were 6.3 per cent higher than last year and residential sales were buoyant partly because of the January storm whilst industrial demand was rising thanks to the end of the lockdown and return to work.

Business is positive in Chile, Greece, Mexico and Peru and the company is investing significant amounts in generating renewable energy.

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John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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