9M2023 Results
October 24, 2023
9M2023 Results
Index
01 | 02 | 03 | 04 | ||||||
3Q2023 | 9M2023 Results | ESG positioning | Targets and |
Milestones: | Conclusions | ||
Execution of the | |||
2022-2030 | |||
Strategic Plan. |
9M2023 Results
01
3Q2023 Milestones
Execution of the 2022-2030 Strategic Plan
3Q23 Milestones | Results9M2023 | ESG | Targets and | ||||||
9M2023 Results | 01 | 02 | 03 | 04 | |||||
Execution of SP 22-30 | Positioning | Conclusions | |||||||
1.1 Milestones achieved in 3Q2023: Execution of the 2022-2030 Strategic Plan
Milestones in the third quarter of the year are aligned with the rapid implementation of the 2022 - 2030 Strategic Plan
Main axes of the 2022-2030 Strategic Plan
Security of supply and investment: focus on Spain and Europe
Closure of the
Hanseatic Energy Hub
Closure of the operation with
Reganosa
Progress on the energy
transition and
hydrogen schedule
Call for Interest process H2Med event in Berlin
Implementation of the efficiency and control plan for operational and financial expenses
Recurrent expenses in line with 2022 and with the objectives of the 2022 - 2030 Strategic Plan
Fixed-rate debt over 80%
4
3Q23 Milestones | Results9M2023 | ESG | Targets and | ||||||
9M2023 Results | 01 | 02 | 03 | 04 | |||||
Execution of SP 22-30 | Positioning | Conclusions | |||||||
1.2 Security of supply and investment
Closure of two relevant agreements for Enagás
Closure of Enagás' entry into Hanseatic Energy
Hub (Stade LNG in Germany)
- Enagás has acquired a 10% stake in the consortium Hanseatic Energy Hub (HEH).
- Stade LNG has:
- A Floating Storage and Regasification Unit (FSRU) commissioning in January 2024.
- An onshore LNG terminal expected to be operational in 2027, which will be prepared to operate with green ammonia.
- The final investment decision (FID) for the onshore LNG terminal is expected by the end of 2023.
Closure of the agreement between Enagás and Reganosa to create an energy hub in the northwest of the Iberian Peninsula
- On September 29, Enagás and Reganosa closed the agreement:
- Acquisition by Enagás of Reganosa's gas pipeline network (€53.5 M).
- Reganosa becomes a shareholder of Musel Energy Hub (25%) for €99.9 M.
- This transaction favours the creation of a large energy hub in the northwest of the Iberian Peninsula.
- Reganosa hands over its position as developer of the hydrogen pipeline between Guitiriz (Lugo) and Zamora, a candidate for the Proyect of Common Interest (PCI) by the European Union, to Enagás.
- Enagás awarded Endesa the contract logistics services for El Musel terminal.
Continuity of the asset rotation policy announced in the Strategic Plan, divesting from non-core assets, as has already been the case of LNG Quintero and Morelos, and focusing on investments in security of supply and decarbonization in Spain and Europe
5
3Q23 Milestones | Results9M2023 | ESG | Targets and | ||||||
9M2023 Results | 01 | 02 | 03 | 04 | |||||
Execution of SP 22-30 | Positioning | Conclusions | |||||||
1.3 Progress on energy transition and H2 infrastructure network
Call for Interest process
On September 14, Enagás launched the Call for Interest process for the first axes of the Spanish Hydrogen Backbone Network.
Contrast the market needs for H2 in a non-bindingprocess, as well as those for ammonia, oxygen and CO2
Promote the development of the hydrogen infrastructures needed to meet Spanish and European targets
Dynamize the H2 market by connecting supply and demand as a catalyst with the vocation of a public utility company
Ensure an open, transparent and non- discriminatory process
A process coordinated with the sector's key players , the result of which will help to contextualise national and international hydrogen supply and demand
The vision of the hydrogen infrastructure to 2030 and 2040, in line with similar Call for Interest processes being carried out by other countries for the integration of the future European H2 market
The outcome of the Call for Interest process will be communicated on 31th January 2024
during the II Enagás Hydrogen Day
6
3Q23 Milestones | Results9M2023 | ESG | Targets and | ||||||
9M2023 Results | 01 | 02 | 03 | 04 | |||||
Execution of SP 22-30 | Positioning | Conclusions | |||||||
1.3 Progress on energy transition and H2 infrastructure network
Progress on the Call for Interest schedule
2023 | 2024 | 2025 | |||
CALL FOR | Open Season | Open Season | |||
INTEREST | NON-BINDING | BINDING | |||
• Attracting interest | • Collection of additional information | • Information analysis | |||
• Information analysis | • Information analysis | • Interaction with participants | |||
• Adaptation of initial proposal | • Match-making and interaction with | • Formalisation of agreements | |||
network (2022 market test) and | participants | ||||
Infomemo | • Proposed network adaptation and Infomemo | ||||
Sept 2023 | Oct 2023 | Nov 2023 | Dec 2023 | Jan 2024 | Feb 2024 | Mar 2024 | CALL FOR |
INTEREST | |||||||
02/01-02/2024 | |||||||
Webinar/Q&A |
Call for interest: 09/22/2023 | ||
Opening for the reception of information | ||
09/14/2023 | Call for interest: 01/31/2024 | |
Announcement of the Infomemo | Presentation of CFI results during the | |
Webinar/Q&A process | Call for interest: 11/17/2023 | II Enagás Hydrogen Day |
Closure of the reception of | ||
information |
• Note*: Subject to regulatory developments in process
7
3Q23 Milestones | Results9M2023 | ESG | Targets and | ||||||
9M2023 Results | 01 | 02 | 03 | 04 | |||||
Execution of SP 22-30 | Positioning | Conclusions | |||||||
1.3 Progress on energy transition and H2 infrastructure network
H2Med Day in Berlin: an example of European energy cooperation
H2Med positions itself as the first green hydrogen corridor for Germany
▪ On October 18, German operator OGE joined Enagás,
GRTgaz, Teréga and REN as promoters of the European green hydrogen corridor H2Med
▪ H2Med will transport green hydrogen produced in Spain and Portugal, supplying north-westernEuropean countries, mainly Germany, with up to 2 million tonnes, representing 10% of the total consumption target for Europe set by REPowerEU for 2030.
▪
▪
Green hydrogen consumption in Germany is expected to be 3.9 million tonnes in 2030, of which 50-70% will be imported.
Last December, the H2Med project, together with its associated projects, was submitted to the European Projects of Common Interest (PCIs) call for proposals .
- H2Med and the Spanish H2 backbone are making positive progress towards PCI status, which decision is expected before the end of the year.
8
3Q23 Milestones | Results9M2023 | ESG | Targets and | ||||||
9M2023 Results | 01 | 02 | 03 | 04 | |||||
Execution of SP 22-30 | Positioning | Conclusions | |||||||
1.4 Implementation of the efficiency plan and control of operating expenses
The Efficiency Plan continues to deliver results
Control of operating expenses
Compliance with recurrent
operational expenditure control from the start of the Strategic Plan
+4%
0%
2021 | 2022 | 2023E |
- Exhaustive control of operating expenses in infrastructure management, O&M and energy costs, with the objective of minimising the impact of inflation on manageable costs.
- Boosting digitalisation and innovative solutions with a focus on efficiency and process improvement.
- Spain has one of the lowest annual CPI growth rates in the European Union: 3.5% in September.
9
9M2023 Results
02
Results
9M2023
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Enagas SA published this content on 24 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2023 15:59:12 UTC.