TGS expects net segment revenues for the fourth quarter of 2021 to be approx.
TGS expects net segment revenues for the fourth quarter of 2021 to be approx. $119 million, compared to $120 million in Q4 2020. Net IFRS revenues are expected to be approx. $105 million, compared to $143 million in Q4 2020.
Kristian Johansen, CEO at TGS, said: ‘We experienced a stronger than normal seasonal uptick in sales in Q4, mainly driven by a solid performance by the US Gulf of Mexico portfolio. Together with the improved order inflow seen over the past few months, this serves as an indication of a slowly improving market. Cash flow amounted to approximately $44 million in the quarter, resulting in a cash balance of approximately $215 million at year-end’.
