Enagas loses $130 million from Tallgrass sale and cuts debt by nearly 30%

Enagás once again reported accounting misstatements in the sale of its US business. According to data sent to the National Securities Market Commission (CNMV), the firm led by Arturo Gonzalo presented some losses from January to September amounted to 130.2 million euros.compared to a profit of 259 million a year ago. This result was driven by an accounting loss of €367.3 million arising from the transfer of its stake in Tallgrass to Blackstone Infrastructure Partners for $1.1 billion. This influence was already evident in first semesterwhen Enagas lost 210 million due to accounting effect.

However, despite the result, the gas company used asset sales to reduce debt and prepare for a strong investment cycle ahead. In this sense, Enagas reduced his obligations will approach 1 billion, from 3,406 million euros at the end of September 2023 to 2,421 million euros until the third quarter of this year, a drop of almost 29%.

Profit after tax as at 30 September 2024, excluding the impact of asset rotation in 2024 and 2023, from the sale of the Morelos pipeline reached 233.5 million euroswhich is 7.8% more than registered in same period 2023.

The company also said it had sent a request to funds European unification (SEF) conduct research on your projects of general interest (PCI): H2med runnernet spanish trunk And two connected storages.

In the case of H2med, Enagas together with the operators GRTgaz, Terega, REN and OGEapplied for CEF funds with letters of support from the governments of Portugal, Spain, France and Germany.

The beneficiaries of the helpline, which is key to the development of projects, are They will find out at the end of this 2024.. So their design will be carried out during 2025.