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Jun 1, 2023
Teréga committed to building the future decarbonised energy mix
In an unprecedented international context, shaken by the challenges of gas supply, energy sobriety and decarbonisation, Teréga is working to build an independent, resilient and carbon-neutral energy Europe. The war in Ukraine has led to an upheaval in gas supplies and prices in Europe, with reduced flows from the north and east and increased flows from Spain.
Solid financial result
As part of the TRF (Trading Region France), Teréga has been able to carry out its transport and storage missions with solidity and flexibility. Where necessary, it has implemented the additional grid balancing services provided for in the regulatory framework. Against a backdrop of rising gas prices, these transactions had a significant impact on the company’s 2022 sales, while having a minor impact on net income.
Turnover for this exceptional year 2022 amounts to €799 million, and €492 million excluding grid balancing.
The transport business generated a turnover of €329 million (+6%/2021).
The storage activity, however, has turnover standing at €163 million (+10%/2021).
At €492 million, turnover excluding grid balancing will therefore be 7% higher than
in 2021.
Net income for 2022, at €95 million, is up sharply (+46% compared with 2021).
This increase is the direct result of higher revenue excluding grid balancing, against a
backdrop of stable expenditure and lower financial charges, attesting to the
solidity of Teréga’s business model.
Moreover, Teréga has continued its investments to ensure its mission as a natural gas transport and storage infrastructure operator by supporting the development of the energies of the future: its investment level has grown 18% compared to 2021, reaching €163 million in 2022.
Cooperation, resilience and sobriety : key words in energy security
In the face of this totally new energy crisis, gas infrastructure operators undertook unprecedented efforts to get through the winter of 2022-2023 calmly, in particular by exceeding the storage fill rate required (90%) by European regulations. This rate confirms the solidity of Teréga’s model, which ensures that the French can afford to heat their homes despite a tight market.
Teréga has also signed a memorandum of understanding with the Portuguese, Spanish and French transmission system operators formalising cooperation on H2Med, the key energy corridor of the European hydrogen backbone, and in particular on the BarMar link between Barcelona and Marseilles.
At the same time, Teréga presented the HySoW project: a corridor of around 600 km of pipelines, 30% of which will be converted from natural gas to hydrogen, is designed to transport 16 TWh/year of carbon-free hydrogen throughout the South-West.
