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Gasunie releases 2016 results

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LNG Industry,


Gasunie has released its results for 2016, claiming that:

 

  • The volume of transported gas increased from 1170 TWh in 2015 to 1236 TWh in 2016.
  • The volume of gas converted from high-calorific to low-calorific rose to 23.4 billion m3 from 16.9 billion m3 in 2015.
  • Reliability in gas transport was almost 100%, with just two short interruptions.
  • Safety results slightly improved.
  • Revenues decreased from €1631 million in 2015 to €1548 million in 2016.
  • Impairment of €450 million due to new method decision for GTS.
  • Net profit fell to €183 million, compared to a net profit of €553 million in 2015; proposed dividend payment of €110 million to the Dutch State (2015 – €332 million).
  • Normalised net profit declined from €553 million in 2015 to €521 million in 2016.

 

In the results, the company also looked at gas infrastructure developments in 2016. In November 2016, the third berth – especially for small vessels – was taken into use at Gate terminal on the Maasvlakte. These small vessels are capable of supplying LNG to shallower ports for distribution in the transport sector.

In December 2016, Gasunie Deutschland and Open Grid Europe (OGE) completed the join acquisition of the German Jordgas Transport (JGT) from Statoil. As a result, Gasunie increased its share in the German pipeline NETRA, which stretches from the North Sea coast near Emden, and mainly transports Norwegian gas. Gasunie is carrying out a multi-year replacement programme, which includes the replacement of gas receiving stations. In 2016, a risk-based analysis was executed as part of the operational excellence programme, and has led to a decision to shift the programme’s focus from preventive to corrective maintenance. This will lead to savings, because fewer gas receiving stations will need replacing.

In the results, Gasunie noted that Title Transfer Facility (TTF) – the Dutch virtual gas trading platform – has become the largest and most liquid gas hub in Europe. This enhances transparent pricing and lower market prices for gas. For the first time, 2016 saw more gas traded on TTF than on the British National Balancing Point (NBP).

Han Fennema, the CEO of Gasunie, said: “In 2016, we transported more gas than in the previous year.

“The volume of natural gas we converted also rose. This shows that our gas infrastructure is fully deployed in the Netherlands and Germany, countries that are in the middle of the energy transition. In the Netherlands, we aim for our energy supply to be CO2-neutral by 2050. Gasunie supports this ambition, which requires far-reaching measures. By replacing fuels that emit more CO2, natural gas will still be able to contribute to the energy transition for a long time. Think, for example, of power plants, but also of shipping and heavy road transport. If we want to keep our energy supply reliable and affordable, we should not view the energy system as a collection of loose parts, but rather as a closely collaborating whole. Besides sustainable electricity, renewable gas will play an important part in this. As a chain in the new energy system, the gas infrastructure makes a valuable contribution, especially in terms of energy transport and as storage facility.”

Read the article online at: https://www.lngindustry.com/regasification/17032017/gasunie-releases-2016-results/


 

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