2024 Half-year report

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.

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.

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.

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.

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.