Spain’s Enagas sees higher-than-expected net profit

Oil&Gas Materials 25 October 2019 10:57 (UTC +04:00)

BAKU, Azerbaijan, Oct.25

By Leman Zeynalova – Trend:

In the first nine months of 2019, Spain’s Enagás made a net profit of 333.1 million euros, 2.3 percent more than for the same period last year, Trend reports citing the company’s report.

Reportedly, this growth is slightly higher than expected, due mainly to the contributions from Tallgrass and Desfa since the start of this year.

“This result is in line with the targets set for the year. The contribution by subsidiary companies was 30 percent, with significant input from international subsidiaries,” said the company.

During this period, Enagás said it has invested 756.5 million euros, mainly in the acquisition of Tallgrass


“In addition, the company has continued to invest in the Trans Adriatic Pipeline (TAP)

project, a key infrastructure for the security of energy supply in Europe and in which Enagás

holds a 16 percent stake. This pipeline, which will connect Turkey with Italy via Greece and Albania, is

90 percent complete, in line with planning. TAP expects to begin gas testing of the infrastructure in

Greece and Albania during the fourth quarter of 2019,” said the Spanish company.


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