Fluxys today has undertaken an acquisition merger with its wholly owned subsidiary Fluxys Finance that was in charge of the centralised management of cash funds and financing within the group. These activities will now be carried out by Fluxys itself.
The bunkering vessel ENGIE Zeebrugge performed in the port of Zeebrugge, Belgium, its first deliveries of LNG (liquefied natural gas) as a marine fuel to M/V AUTO ECO and M/V AUTO ENERGY, the two new gas-propelled pure car and truck carriers (PCTCs) of UECC. The LNG bunkering operations were conducted at the same time that the cargo operations for PCTCs were taking place.
On 1 December 2017 Fluxys Belgium and GRTgaz will introduce Virtualys, a single virtual interconnection point between the Belgian ZTP and French PEG Nord gas trading places with a view to facilitate cross-border trading.
A change is taking place in Fluxys' management team in Germany. By cordial mutual agreement, Dr Peter Drasdo will be leaving the company on 1 July 2017 to take on new challenges outside the Fluxys Group.
The European consortium consisting of Snam (60%), Enagás (20%) and Fluxys (20%) signed today in Athens the agreements with the Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum for the acquisition of a 66% interest in DESFA, the national operator in the natural gas infrastructure sector.
Today, Fluxys with consortium partners AXA Investment Managers – Real Assets, acting on behalf of its clients, and Crédit Agricole Assurances have closed the transaction to jointly acquire from EDF and Total a 35.76% stake in Dunkerque LNG, owner of the liquefied natural gas (LNG) terminal in Dunkirk. Through the acquisition the Dunkirk LNG terminal is now part of the Fluxys group.
The Zeebrugge LNG Terminal has recently performed its first loadings of the Coral EnergICE. This newly built ice class vessel will be making regular calls for delivering small-scale LNG to Scandinavian ports.
- Regulated turnover remains stable
- Net profit increases by €21.8 million, €16.2 million of which is due to the one-off impact of tax reform
- Tax reform has positive impact on future tariffs but no effect on the dividend to be paid out
- Fluxys Belgium proposes to the Annual General Meeting on 8 May 2018 a gross dividend of €1.23 per share
- Successful long-term bond issue worth €350 million
- Investments: €83.4 million, mainly for the construction of the fifth tank at the Zeebrugge LNG terminal
- Belgian network plays key role as a natural gas crossroads: border-to-border transmission volumes up 20%
- Gas-fired power plants crucial to security of electricity supply
- Belgian gas trading still growing steadily
- Transmission tariffs drop by approximately 7.5% in 2018
- Natural gas as a fuel for transport continues to rise
The Zeebrugge LNG terminal performed its first direct ship-to-ship transfer of liquefied natural gas (LNG) today. The successful completion of the operation marks the start of LNG transshipment services at the facility.
Eoly, part of Colruyt Group, Fluxys and Parkwind have set up a collaboration to boost the sustainability of the energy landscape in Belgium. The ambition is to build an industrial-scale power-to-gas installation that converts green electricity into green hydrogen that can be transported and stored in the existing natural gas infrastructure.
Information on key events in the first half of 2016 and their impact on the financial situation of Fluxys Belgium:
- Regulated turnover down – drop results from of a number of authorised costs in decrease: operating expenses, financial expenses and the authorised return
- Efficiency efforts in line with the regulated tariff model
- Increasingly lower interest rates affect the group's results
- Investments: €54.2 million, mainly for the fifth storage tank and the second jetty at the Zeebrugge LNG terminal
- Traded volumes on the ZTP gas trading place have risen by over 51%
- Success of small-scale LNG continues
• Regulated turnover stable
• Net profit: €54.5 million
• Proposal to the Annual General Meeting on 14 May 2019: gross dividend of €1.26 per share (2017: €1.23)
• Investments: €78.1 million, mainly for the construction of the fifth tank at the Zeebrugge LNG terminal
• Cold spell and peak demand for gas-fired power generation: Fluxys Belgium grid once again proves its robustness
• Sharp increase in terminalling of large volumes of LNG at Zeebrugge facility
• Belgium takes a first step towards green gas for consumers
Fluxys Belgium has successfully issued two bonds with a total nominal value of €350 million at historically low credit spreads and for long-term maturities. Total market appetite reached €880 million, which reconfirms the confidence of European institutional investors in Fluxys Belgium’s credit quality and the key role of the Belgian natural gas grid as crossroads for Northwestern Europe.
The consortium consisting of Snam (60%), Enagás (20%) and Fluxys (20%) has today completed the acquisition of a 66% stake in DESFA, the national operator in the natural gas infrastructure sector, from the Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum for a consideration equal to € 535 million. The consortium, which was awarded the tender for the DESFA privatization in April 2018, made the acquisition through Senfluga Energy Infrastructure Holdings. The consortium has obtained a >10-year non-recourse acquisition financing corresponding to approximately 65% of the enterprise value.
On 1 January 2017, commercial operations started up at the Dunkirk regasification terminal. This commissioning draws a line under one of the largest industrial construction sites in France.
Today, the Fluxys and Novatek joint venture Rostock LNG GmbH has signed a Land Lease Agreement with the Port of Rostock with a view to building and operating a mid-scale liquefied natural gas (LNG) storage terminal in the port. The envisaged facility is to unlock LNG as a low emission alternative for heavy fuel oil, diesel and LPG in North and Central Europe and the Baltic Sea area.
Belgian and Spanish natural gas infrastructure companies Fluxys and Enagás have closed the joint sale to FS Gas Transport AB of their total stake in Swedegas, owner and operator of the high-pressure gas grid in Sweden.
The European consortium consisting of Snam, the majority shareholder with an interest of 60%, together with Enagás (20%) and Fluxys (20%), confirms that it has been awarded the tender arranged by the Greek Agency for privatization (TAIPED) for the purchase of a 66% stake in DESFA, the national operator in the natural gas infrastructure sector.
The transmission system operators GASCADE Gastransport GmbH, Fluxys Deutschland GmbH, Gasunie Deutschland Transport Services GmbH and ONTRAS Gastransport GmbH have signed a fractional ownership agreement for the pipeline project European Gas Pipeline Link (EUGAL).
Natural gas transmission tariffs are set to drop for the third time in five years on 1 January 2018, which will have a positive impact on gas bills for individuals, SMEs as well as large companies. This decrease is triggered by the interim tariff revision mechanism provided for in CREG’s tariff decision.
