Net4Gas’s net profit in Czechia rose by nearly two-thirds last year to CZK 6.24 billion

Net4Gas, the operator of Czech gas pipelines, saw its net profit rise by nearly two-thirds year on year last year to CZK 6.24 billion. Revenue increased by a quarter to CZK 12.95 billion. The results were better despite gas transmission falling by around 40 percent year on year as a result of Russia’s invasion of Ukraine. This was reported in the Net4Gas group’s annual report for last year, which was highlighted today by the Ekonomický deník news website.

Total natural gas transmission fell to 30.9 billion cubic metres last year, 20.8 billion cubic metres less than in 2021. „This decline was caused by changes in the structure of gas flows in Europe as a result of Russia’s invasion of Ukraine and its geopolitical consequences. In other words, Russia’s overall share of gas supplies to Europe, and thus the volume of Russian gas transported through the Czech Republic, fell significantly during 2022,“ said Net4Gas CEO Andreas Rau.