April 29, 2020 / 7:15 AM / a month ago

Spain's Naturgy hit by coronavirus impact on natural gas demand

MADRID, April 29 (Reuters) - Spanish utility Naturgy reported a 42% fall in first-quarter core earnings on Wednesday, squeezed by slumping gas prices and coronavirus-related demand erosion.

A global glut of liquefied natural gas (LNG), of which Naturgy has long been a major buyer, now has even fewer takers as economies hunker down to help to stem the spread of a virus that has infected more than 2 million people.

The company said that lower gas demand in Spain and Latin America in March weighed on its first-quarter bottom line.

Naturgy’s first-quarter net profit fell to 199 million euros ($216 million) from 341 million euros a year earlier. ($1 = 0.9216 euros) (Reporting by Isla Binnie and Inti Landauro Editing by David Goodman )

Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below