BAKU, Azerbaijan, Feb.21
By Leman Zeynalova – Trend:
In the fourth quarter of 2021, natural gas sales of 18.88 bcm by Italian Eni company slightly increased by 2 percent compared to the same period of 2020, due to the higher gas volumes marketed in Italy, which were partly offset by lower sales in Belgium and Turkey, Trend reports with reference to the company.
In the full year of 2021, natural gas sales were 70.45 bcm, up 8 percent, mainly due to the higher LNG volumes marketed, says Eni.
In the fourth quarter of 2021, the Global Gas & LNG Portfolio segment reported an adjusted operating profit of €536 million, a robust growth compared to the fourth quarter of 2020 (up by €637 million).
The positive performance in the quarter leveraged on the continuous initiatives of portfolio optimization and renegotiations which allowed them to benefit from extreme volatile gas and LNG markets. These positives were partially offset by higher provisions due to an increased nominal value of trade receivables, as well as the ongoing contractual claims. In FY 2021, the adjusted operating profit of €580 million increased by 78% vs the FY 2020, due to the same drivers of the quarter, higher gas volumes sold in the European markets and higher LNG sales.
Natural gas production was 4,700 mmcf/d in the quarter, down 2 percent compared to the same period of 2021 (4,613 mmcf/d in the full year of 2021, down 2 percent). The impact of mature field declines and lower activity in Nigeria were partly offset by the ramp-ups at Zohr (Egypt) and Merakes (Indonesia), boosted by strong global demand.
---
Follow the author on Twitter: @Lyaman_Zeyn