First-half results at DEPA, the Public Gas Corporation, have been affected by a considerable drop in demand for natural gas, but the firm did manage to retain the greater part of its profit level, posting a 66 million euro figure.

Overall demand, based on orders received by power-producing units, industry, gas supply companies (EPA), and others, fell by approximately 18 percent in the first half of 2014 compared to the equivalent period a year earlier, according to figures provided by DESFA, the Natural Gas Transmission System Operator. The drop in demand was greater in the second quarter, falling by 28.15 percent.

DEPA’s turnover figure fell to 607.4 million euro in the first half of 2014 from 807.3 million euro during the equivalent period in 2013. Pretax profit reached 72.25 million euro in the first half of 2014 from 97.14 million euro a year earlier. First-half net profit totaled 66.3 million euro from 98.72 million euro during the first half of 2013.

In terms of corporate group performance, first-half sales reached 572 million euro from 801 million euro during the first half of 2013. First-half net profit amounted to 52.5 million euro form 85.5 million euro in the first half of 2013.

As for consumption, the DESFA figures showed that consumers received 10.1 MWh of natural gas in the first quarter of 2014, down from 11.2 MWh in the first quarter of 2013, a 9.91 percent reduction. The drop in second-quarter demand was more considerable, totaling 6.38 million MWh, a 28.15 percent fall.

The industrial sector’s share of total natural gas demand distributed to the market was maintained at levels of between 18 to 20 percent, but orders were smaller.