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.

Thank you for reading ‘Gas infrastructure operator Enagas confirms first half figures down on 2020’ and remember that all articles produced by Euro Weekly News may be accessed free of charge.