BAKU, Azerbaijan, September 28. In the first half of 2023, the Fluxys Belgium Group recorded a turnover of €309.3 million, marking a notable increase of €21.9 million compared to the same period in 2022 when it stood at €287.4 million, Trend reports.
The company says that concurrently, the net profit saw a decrease from €41.1 million to €34.5 million, aligning with the established tariff model. The shift in regulated turnover and net profit primarily stems from changes in the various components covered by regulated tariffs. As per the tariff methodology, revenue should reasonably cover operational costs, and recent inflation has driven up these expenses over the past six months, consequently leading to higher turnover. The decline in net income adheres to the tariff methodology and the equitable margin specified for the LNG terminal.
In the first half of 2023, investments in property, plant, and equipment amounted to €70.3 million, a substantial increase compared to the €35.2 million invested during the same period in 2022. Of these investments, €30.3 million was allocated to LNG infrastructure projects, while €39.7 million went toward transmission projects.
Headquartered in Belgium, Fluxys is a fully independent energy infrastructure group boasting a workforce of 1,300 employees, engaged in gas transmission and storage, as well as liquefied natural gas terminalling. The company manages an extensive network of 12,000 km of gas transmission pipelines spanning Europe and Brazil.
Fluxys also oversees liquefied natural gas terminals in Belgium, France, Greece, and Chile, with a combined annual regasification capacity of 380 TWh. Additionally, it operates an underground gas storage facility for natural gas in Loenhout, Belgium."
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