€494.8Mn of assets were brought on stream, a record level for the Company. Enagás’ Board of Directors approved investment projects totalling €678Mn.
The level of financing secured to date ensures the Company can execute the investments envisaged in its Strategic Plan through 2011
Net profit for the first nine months of the year amounted to €201.2Mn, in line with the Company’s 8.5% growth target for 2008
These results were underpinned by the Company’s operating and financial cost control policy
Enagás invested €535.9Mn during the first nine months of the year in infrastructure to ensure the security of the Spanish gas system. This compares with investment of €297.7Mn in the same period last year. This level of investment, an all time record for the Company, puts it on track to deliver the annual investment target of €750Mn.
Since the beginning of the year, assets worth €494.8Mn have come on stream, 82.5% of the annual target of €600Mn.
The main projects started up in the period include the Transversal Axis (Alcázar de San Juan-Montesa), the south east Madrid semicircle pipeline and the splitting of the Barcelona-Arboç pipeline and of the Campo de Gibraltar branch. In addition, the emission capacity of the Cartagena regasification plant was increased from 1,200,000 m3(n)/h to 1,350,000 m3(n)/h, and a fourth LNG storage tank was commissioned. The Zaragoza and Alcázar de San Juan (Ciudad Real) compression stations were also put into operation.
