2024 Half-year report

Steadily building on

In the first half of 2024, Gasunie continued steadily building on its energy transition projects. There were milestones to celebrate at Porthos, and the integration plan for the extension of the WarmtelinQ waste heat pipeline to Leiden was adopted. These are significant steps on the way to realising a climate-neutral society in 2050.

Facts and figures

In the first half of 2024, Gasunie reported a net profit of € 95 million from a revenue of € 696 million. We transported 449 TWh of natural gas with a single interruption.

New strides in energy transition

In June, we were designated as the network operator for the future hydrogen network in the North Sea. CO₂next, the project for an open-access terminal for temporary storage and transfer of liquid CO₂ at the Maasvlakte, gained two new partners.

Security of supply in the Netherlands

Our Dutch TSO GTS itransmitted 322 TWh of natural gas in the first half of 2024 (-14%). This is the lowest volume GTS has ever transmitted over the first six months of a year. Gas production from the Groningen field has now ceased.

Security of supply in Germany

Gasunie Deutschland transmitted 127 TWh of natural gas (-8%). Thanks to the new LNG import facilities in Stade and Brunsbüttel, GUD transported domestic regasified LNG through its pipelines for the first time.

Employee safety and wellbeing

Unfortunately, our ‘accident KPI’ (total reportable incident rate) is still above the threshold value, meaning the number of accidents occurring on the job is unacceptably high. We have a programme in place with firm actions aimed directly at improving our safety performance.

Our emissions

In terms of Gasunie’s energy demand in the Netherlands over the past six months, the EemsEnergyTerminal took centre stage. The terminal’s unburned methane emissions decreased thanks to replacing onboard generators with shore power.

Circularity

Circularity is one of the key elements in the ten-year framework agreements Gasunie signed with six contractors in April. These framework agreements cover topics like the maintenance and management of existing natural gas pipelines and the construction of new pipelines for hydrogen, biomethane and CO₂. The agreements encompass a maximum investment volume of € 4 billion.

Interim financial statements

We recorded € 171 million less in net profit and € 407 million less in revenue in the first half of 2024 compared to the first half of 2023. Most of the decline can be attributed to the regulatory system Gasunie is facing in the Netherlands and Germany. In 2022, with the Russian invasion of Ukraine, Gasunie’s network operators sold much more capacity than expected at sometimes much higher prices. As a result, actual revenue that year was substantially higher than the revenue cap set by the regulators. This additional revenue is being returned to the market in the form of lower tariffs in 2024 and subsequent years.

Relationship with local communities

In the first half of 2024, we put a lot of energy into informing local residents about the route planning for our future hydrogen networks in The Netherlands and Germany.

2024 Half-year report

Download the half-year report via the link below.

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