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Gas companies in Europe made €4 billion from energy crunch: report
(EurActiv, 29 Oct 2021) European gas transmission operators and their parent companies made €4 billion in profits in the first six months of 2021, even as the energy crisis was beginning to bite, according to analysis by the NGO Global Witness.
he analysis shows that 26 companies that are members of the European Network of Transmission System Operators for Gas (ENTSOG) saw their profits increase in the first half of 2021 as the energy crisis was beginning to hit Europe.
The companies cited in the report include Belgium’s Fluxys, Gasunie which has subsidiaries in the Netherlands and Germany, and Italy’s SNAM, all of which operate gas transmission networks in their countries.
The other companies are yet to publish financial records for 2021.
Gas and oil company Wintershall Dea, for its part, made €243 million in profit between July and September this year, up 245% from 2020.
Earlier this month, the chairman and CEO of Wintershall Dea, Mario Mehren, described the quarter as “exceptional” and “underpinned by a constructive commodity price environment, and in particular by European gas prices which are expected to stay high throughout the winter”.
This comes in stark contrast to worries about rising levels of energy poverty as European citizens face mounting gas prices ahead of the winter heating season.
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EurActiv, 29 Oct 2021: Gas companies in Europe made €4 billion from energy crunch: report
