Fluxys’ 2019 profit was boosted by rising LNG terminal activity, it said in a statement. The Belgian gas infrastructure company and Zeebrugge LNG terminal operator posted a rise in profit as the liquefied natural gas import facility reports record activity. Fluxys reported a €15 million increase in profit compared to 2018 – a profit of €69.5 million in 2019.
A record 130 vessels docked at Zeebrugge LNG terminal in 2019, compared to its previous all-time annual record of 82 vessels in 2009. Furthermore, more than twice as many carriers came to unload LNG than did so in 2018, and the amount of natural gas injected by the terminal into the network was almost three times higher than it was in 2018 – and the number of LNG transshipment operations doubled.
The company noted its LNG terminal prospects have been boosted by the start of the Yamal LNG transshipment contract as well as a new deal signed with Qatar Petroleum.
1,200 more LNG trailers were loaded in 2019 than were in 2018, while traffic for loading small LNG carriers in 2019 remained at the same level as in 2018.
Elsewhere, in December 2019, the Zeebrugge LNG terminal commissioned the newly-built fifth storage tank and associated process facilities for commercial use, which marked the start of the long-term transshipment contract concluded with Yamal Trade in 2015.
It said in a statement that the new facilities “allow transshipments between ice-class LNG vessels from the Yamal production terminal and conventional LNG carriers without the two having to be docked simultaneously.”
It added that under the 20-year contract with Yamal Trade, up to 8 million tonnes of LNG can be transshipped at the Zeebrugge terminal annually. This could mean additional traffic of 214 LNG carriers per year.
In September 2019, Qatar Terminal Limited booked on a long-term basis the available unloading slots as the current long-term contracts expire. The agreement runs until 2044 with the option of early termination at the end of 2039 under certain conditions.
Elsewhere, it said its investment in property, plant and equipment totalled €91.3 million, (compared to €78.1 million in 2018). Furthermore, €14.4 million was spent on transmission projects In 201,, €4.5 million on storage infrastructure and €72.4 million on LNG infrastructure projects, mainly the construction of a fifth tank at the Zeebrugge LNG terminal.
It added in the update that its essential services remain operational while complying with all the health and safety measures recommended by the Belgian authorities, with regard to the COVID-19 outbreak.
For more information visit www.fluxys.com