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Gasunie reports solid 2014 results

LNG Industry,

Dutch gas infrastructure company Gasunie reported an increased revenue of €1651 million in 2014, up from €1464 million in 2013.

Healthy profits

The company, who has a stake in the Gate LNG terminal in Rotterdam, the Netherlands, recorded a net profit of €603 million, on an invested capital of €9295 million. This increase in net profit is largely due to the lower energy costs for gas transport as a result of the mild 2014 winter, and lower financing costs.

New infrastructure projects and additional capacity sold by Gasunie participants NEL, BBL and EnergyStock have also resulted in extra revenues.

New phase

Han Fennema, CEO of Gasunie, commented on the dawn what he described as a ‘new phase in gas supply’ in the Netherlands and Europe. Fennema said: “The Dutch and European gas sector fins itself at a turning point. There are debates going on about earthquakes and gas production, geopolitical dependencies, shale gas and the position of fossil fuels in the energy mix.

“As a result, social and political support for natural gas is under pressure. In the future, natural gas will not in all cases and at all times be the only solution. But gas and gas infrastructure can continue to play an important role as a link in the future energy stream – a link that is clean and climate neutral, limits geopolitical dependency, and is also reliable and affordable.

“The challenge will be to actually prove this and make sure it is well understood. For instance, replacing coal and oil by gas is a quick and inexpensive way of achieving climate benefits and thus reducing the cumulative CO2 emissions in the coming decades as much as possible.”

Quality conversion

The company added that in order to keep the security of supply in the Netherlands up to standard, more natural gas will need to be imported. LNG will play a role in this. The Gate terminal has evolved into a European hub for LNG, contributing to the spread of natural gas supply routes and therefore the security of supply in northwest Europe.

In 2014, the number of vessels for the supply and transit of LNG grew to 34 (from 23 in 2013). This growth mainly concerns small scale and reloading activities. Since January 204, Gate terminal has at its disposal, a loading station for approximately 5000 tank trucks per year.

Adapted from report by Katie Woodward

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