Belgian gas distributor Distrigas recorded total revenues of €4 ($5) billion for the first nine months of 2009, up 39.8% on the same period in 2007. The company said increased energy prices and the higher contribution of arbitrage activties were largely behind the upturn. It sold a total of 133.4 TWh of natural gas globally during the period, up 8.6% on the year.rnNatural gas sales in Belgium totaled 94.8 TWh in the first nine months of the year, down 1.7% from the same period of 2007, which Distrigas said resulted from an increase in competitive pressure. Natural gas sales outside Belgium totaled 21.54 TWh in the first nine months of 2008, down 6.8% from the same period of 2007.rnHowever, natural gas sales outside Belgium and arbitrage sales combined totaled 38.7 TWh between January-September, amounting to an increase of 45.8% on the year. Distrigas said that the increase was "entirely attributable to arbitrage activity since sales outside of Belgium experienced a slight decrease as a result of intensified competition." The increase in arbitrage volume was due to spot market opportunities, as well as an adjustment in the reporting of net arbitrage sales introduced at the beginning of 2008.
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