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During 2012, consumption of natural gas by power plants fuelled by Galp Energia decreased 33% compared to 2011, which was accounted for by the contraction of electricity generation via natural gas, due primarily to the increased weight of coal in electricity production in Portugal. This was supported by a more competitive price of that commodity when compared to natural gas. The increased imports of electricity produced in Spain also contributed to the lower consumption in that segment.
In the industrial segment, the volumes of natural gas sold increased 161 mm³ to 2,113 mm³, following an increase in consumption by Galp Energia’s natural gas industrial units, namely the cogenerations at the Matosinhos and Sines refineries, and the hydrocracker unit installed at the latter. In 2013, sales will continue to be positively impacted by the consumption of those units, especially with the full operation of the cogeneration plant at the Matosinhos refinery.
Also in Portugal, the Company strengthened its offering of several technical services with a view to tightening client partnerships with the Company. From a single supply source, Galp Energia offers a complete energy range (oil products, natural gas and power) to its industrial clients.
Residential and commercial segment
As for the residential and commercial segment, consumption went down 103 mm³ in 2012, particularly due to milder emperatures at the beginning of the year, but also with the loss of clients in this segment in Spain. Another notable event during the year was the extension of deregulation in the Portuguese natural gas market. In response to this challenge, Galp Energia launched the first combined natural gas and electricity offer in Portugal, Galp On. Through this brand, the Company already supplies more than 100,000 customers, thereby achieving the goal set when the brand was launched.
Sales in the trading segment in 2012 amounted to 2,242 mm³, a substantial increase compared to 2011. Galp Energia has been successfully seizing opportunities which in the international LNG market as they rise.