Bord Gáis said its gas sales increased by 8% to €763m, while electricity sales rose by 18% to €239m. It currently holds about 8% of the electricity market in Ireland.In 2007, Bord Gáis said that gas demand rose with sales volumes up 14% and gas customer numbers exceeding 607,000 by the end of the year, up 5% on 2006.Bord Gáis has reported pre-tax profits of €166m for 2007, up 29% on the figure of €129m the previous year. Turnover rose by 10% to €1.215 billion.
Indigenous gas supplies, specifically from Kinsale Gas Field, accounted for 13% of total Irish gas demand during 2005. Bord Gais states that this proportion could be significantly increased if additional indigenous gas supplies from the Corrib Field come onshore, supplying up to 60% of Ireland’s annual demand at peak production.On the issue of gas supply, Gerry Walsh said; “We are very comfortable on the issue of security of supply of natural gas. Bord Gáis currently sources the majority of its gas supplies from wholesalers of UK North Sea gas fields. Going forward, we want to secure part of the new indigenous supplies from the Corrib gas field for our portfolio, as well as continuing to source gas from suppliers to the UK market”.
Development of gas infrastructure plays an important role in Bord Gáis’ expansion strategy. In the context of its €1.5 billion capital expenditure programme (from 2005 – 2009), of which €250 million is earmarked for Northern Ireland, Bord Gáis continues to invest heavily in the construction of gas infrastructure. At the end of 2005 the company had completed 71km of the 149 km Mayo-Galway pipeline; construction of 339km of distribution pipeline and renewal of 199km of pipeline as part of the ongoing mains renewal programme. In addition, 2005 saw the granting of planning permissions and consents for the South North pipeline to be built in 2006, which will link Gormanston in Co. Meath to Ballyclare in Co. Antrim.