GasTerra presents annual figures for 2012

25-02-2013

Higher turnover of € 23.4 billion generated from lower volume than previous financial year

In 2012 werd 83,4 miljard m has recorded a good result for 2012. This is shown from the annual results for 2012, which are published today.  In 2012, 83.4 billion m
gas verkocht, ruim 4 procent minder dan vorig jaar. of gas was sold, a good 4 percent less than the previous year.

Rapid growth

Gertjan Lankhorst, GasTerra’s CEO, is satisfied with the result. He points out, moreover, that the liberalised gas market in Europe and the Netherlands is developing at a brisk pace. 'Op de Nederlandse gas hub, The Dutch Title Transfer Facility (TTF) traded no less than 775 billion m³ of gas in 2012. This represents an increase of over twenty per cent with respect to 2011. This made the TTF one of the foremost gas trading points in Europe. Hub liquidity also increased. Gas volumes are being traded more frequently before being physically delivered to end users. This is a clear sign that the liberalised gas market is functioning properly. Free markets ultimately create optimal conditions for economic activity including critical investments in new energy production and infrastructure for our sector.

Uncertainty prevailing over the European gas market

This positive financial result conceals the uncertainty prevailing over the European gas market. The rapid growth of shale gas production in the US is causing gas to displace coal as the main energy source for the generation of electricity.  Coal surpluses arising locally as a result of this are being exported, mainly to Europe, meaning that prices here for coal have fallen sharply. This is damaging gas’s competitive position.  As a result of this, energy companies at home and abroad are deciding to operate their gas-fired power stations at the lowest possible levels or even to decommission them completely
GasTerra continues to devote itself to promoting sustainable practices for our energy supply.  The promotion of energy-saving methods and the use of the most efficient and cleanest forms of energy generation are the central elements of this policy, as is also the development of sustainable (green) gas. Following a period spent co-financing test green gas. projects, GasTerra started to buy and sell green gas on a commercial basis in 2012.

From today, GasTerra’s full annual report may be viewed as a PDF (Dutch only). CEO Gertjan Lankhorst and CFO Maurice de Wilde also comment on the annual results and figures in the video interview (Dutch only).

Annual Report 2012

Video press release (Dutch only)