The Fluxys Belgium group has reported a slight decrease in turnover in 2018 to €503.2 million, down from €510.5 million in 2017. In accordance with regulatory principles, this fall in regulated turnover is mainly due to the decline in operating costs, financing costs and taxes, partially offset by an increase in the allowed regulated return.
In 2018, group net profits totalled €54.5 million, down €15.8 million compared to 2017 (€70.3 million). However, the net profits in 2017 were exceptionally high due to a one-off impact on deferred taxes booked in the past totalling €16.2 million as a result of the Belgian corporate tax reform.
Investments totalling €78.1 million. In 2018, investments in property, plant and equipment totalled €78.1 million, compared with €83.4 million in 2017. €17.8 million was spent on transmission projects, €0.8 million on storage infrastructure and €59.5 million on LNG infrastructure projects (mainly the construction of a fifth tank at the Zeebrugge LNG terminal).
LNG unloading at Zeebrugge facility
Compared to the previous year, in 2018 almost twice as many ships came to unload LNG at the Zeebrugge terminal, and more than twice as much LNG was regasified and injected into the grid. Demand for loading large LNG vessels also picked up again.
Furthermore, in May 2018 when ship-to-ship transshipment services began, this marked the start of a new phase in the LNG terminal’s diversification. No fewer than nine direct LNG ship-to-ship transshipment operations were carried out. Once the fifth storage tank will be commissioned in 2019, it will serve as a buffer for transshipments between two vessels that are not docked simultaneously.
Second loading bay for LNG trailers in use
A second loading bay for LNG trailers at the Zeebrugge terminal became operational in December 2018. The additional bay secures the facility’s continued ability to respond smoothly to future demand by doubling capacity from 4,000 to 8,000 loading operations per year. The loading bay receives financial support from the European Commission through the Connecting Europe Facility.
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