Spanish historical gas company Gas Natural Fenosa has announced its 2014 results.
In Europe, the company distributed 175 TWh of gas in 2014, a 10% fall compared to 2013, as gas volumes distributed in Spain fell from 191 TWh to 172 TWh despite a slight increase in customers. Gas sales in Spain decreased by 5.9% (-3% for business and industries, -16% for households and -12% for the power sector) to 198 TWh; international gas sales rose by more than 23%, from 97.5 TWh to 121 TWh: sales in Europe rose by 37% to 46 TWh, while other sales rose by 17% to 74 TWh. The company is consolidating its position as the leading foreign operator in the Portuguese wholesale gas market with a portfolio of industrial contracts of 7 TWh/year (17% market share). The group is also active in France, the Netherlands, Germany and Italy.
In Latin America, Gas Natural Fenosa increased its gas sales by 9.5% to 249 TWh; sales in Brazil rose by 19% to 106 TWh, while sales in Mexico rose by 0.9% to 47 TWh and those in Colombia by 31% to 24.5 TWh. Gas distribution in Argentina dipped by 1.7% in 2014 to 72 TWh.
Where electricity is concerned, power generation in Spain fell by 7.2% to 30.5 TWh, due to a 14% fall in CCGT generation (to 14 TWh); hydropower generation dipped by 3.6% while renewable generation fell by 12% to 2 TWh. Thermal and nuclear generation progressed in 2014 (+3% for coal and nuclear). Electricity sales in Spain rose by 5.4% to 34.7 TWh, while distribution in Europe declined by 1.6% (-1.9% in Spain to 32 TWh and +0.3% in Moldova to 2.6 TWh).
Distributed volumes rose by 5.8% in Latin America (+6.1% in Colombia to 13 TWh and +5.1% to 4.5 TWh in Panama).
Gas Natural Fenosa focused its investments mainly on the gas distribution business, which rose by 45.1%, particularly in Latin America, accounting for 39.4% of the consolidated total. Its electricity distribution investment increased by 1.4% in Spain. By geographical area, investments in Spain rose by 25.6% (4.4% without the LNG tanker). Meanwhile, international investment was 20.9% higher than the previous year, largely due to registering some of the Brazilian gas distribution commitments for 2014-2016.
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