Gasunie annual report: acceleration of CCS and hydrogen needed to hold on to industry
- Strategic agenda: new energy for a prosperous society
- Green capital investments more than doubled last year
- Gasunie to invest around € 12 billion up to the end of 2030, with two thirds of this going to our infrastructure for sustainable gases
- Dutch gas transmission down nearly 9% due to low export demand; storage facilities fill level down 25 percentage points
- Underlying net result for 2024 € 355 million
Last year was a turbulent time for the energy transition. In 2024, it became clear that the competitiveness of the Netherlands and Europe is on the decline and that the future of industry is under threat. The desired speedy transition to a sustainable energy supply is under pressure due to uncertain conditions, high network tariffs, and lengthy permitting procedures. To accelerate the energy transition and contribute to establishing an affordable, available, sustainable energy supply for Europe, Gasunie will be investing around € 12 billion in energy infrastructure up to the end of 2030. Last year, green projects’ share in the total capital expenditures rose from 20% to 45%. Thanks to all these investments, we can continue to look forward to industry and homes becoming more sustainable, while the target of becoming climate neutral by 2050 remains in sight. This and more is stated in Gasunie’s annual report published today.
Gasunie CEO Willemien Terpstra:
The Netherlands is currently at the tipping point where it will be seen whether we will become more sustainable with industry or without.
“If this is without, it will be disastrous for the Netherlands and for Europe – disastrous for our prosperity, for our jobs, for our long-term autonomy, and for our environment. Making things more sustainable and offering solutions that can keep industry in the Netherlands: that is a top priority for Gasunie.”
Strategic agenda: ‘New energy for a prosperous society’
With its revised strategic agenda, Gasunie is fully committed to accelerating the energy transition and maintaining energy security. By investing around € 12 billion up to the end of 2030 – with two thirds of this going towards infrastructure for sustainable gases – the company is taking major steps towards a future in which sustainable gases and green electricity reinforce each other. Gasunie wants to do everything it can to keep key industries in the Netherlands. Through CCS (carbon capture and storage), industry can cut their CO2 emissions in half by 2030. In addition, Gasunie wants to build the infrastructure for hydrogen as soon as possible, and the company is taking measures to see that more biomethane is fed into its pipelines. In the meantime, Gasunie continues to ensure that its natural gas network in the Netherlands and Germany functions optimally and efficiently, so that the company can continue to offer energy security.
Gasunie CEO Willemien Terpstra:
With our Strategic Agenda, Gasunie is setting a course along which sustainability and economic resilience go hand in hand.
“We cannot do this on our own. And so I am appealing for cooperation and collaboration – between industry, government bodies and society in general – so that we can make the energy supply of the future a reality.’
We’ve made a start; now it’s time to move forward
In 2024, Gasunie worked hard and made good headway on its projects. The timeline for the national hydrogen network was updated at the end of last year, providing clarity for future users. The first part of this network (in Rotterdam) is on track to being ready to transport the first volumes of hydrogen next year. The industrial regions along the Dutch coast will follow by 2030 at the latest, and it is expected that the connections with the Dutch province of Limburg and with Germany and Belgium will be ready around 2032. Our CCS project Porthos, the first large-scale Dutch project for the transport and storage of CO2 (CCS), is also underway, with the largest part of the 30-km-long onshore transport pipeline already laid. Progress has also been made on the construction of WarmtelinQ, a pipeline to transport heat from the Port of Rotterdam to homes and businesses in the province of Zuid-Holland. To complete these projects and to realise all the other ambitions, Gasunie’s workforce grew by 15% in 2024.
Gas market
Energy security remained an important point of attention for Gasunie in 2024. By modifying the network and investing in LNG terminals, the loss of Russian pipeline gas and the closure of the Groningen gas field was compensated, without jeopardising energy security. At the end of 2024, the fill level of the Dutch storage facilities had dropped by 25 percentage points. The gas transmission volume in the Netherlands fell by almost 9% in 2024 due to low export demand. Together with Vopak, Gasunie is working in Rotterdam and in Eemshaven on expanding the import capacity for LNG. Construction of a fourth tank at Gate terminal is underway. At EemsEnergyTerminal, market parties have indicated that they will also need imports of LNG and hydrogen and the means to export CO2 after 2027 as well. In 2025, Gasunie will make a decision on a possible extension of EemsEnergyTerminal.
Financial figures
Our underlying result after taxation (the result corrected for past and future regulatory settlements) amounted to € 355 million in 2024, € 75 million less than in 2023. The underlying revenue of € 1,595 million was almost € 174 million lower than the figure for 2023. This is largely due to the fact that, as of the end of 2023, Gasunie only holds 50% of the shares in EemsEnergyTerminal.
Personnel expenses were up as a result of the increase in the company’s workforce, with more people needed to bring about the energy transition.
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Gasunie annual report: acceleration of CCS and hydrogen needed to hold on to industry, source
