By Nathan Allen 
 

Naturgy Energy Group SA (NTGY.MC) said Tuesday that it will book a net gain from an Argentine ruling on natural-gas pricing in its 2018 results.

In the first nine months of 2018 the Spanish gas company booked a 57 million-euro ($65.1 million) charge on net income and a EUR116 million charge on earnings before interest, taxes, depreciation and amortization because of the devaluation of the Argentine peso, which pushed up the cost of gas procurement in the country.

However, following a ruling on Friday, Argentina's government said it will pay the difference between the stated value of the natural gas purchased by distributors between April 1, 2018 and March 31, 2019, and the price paid by distributors.

Naturgy said it welcomes the decision, which strengthens the stability and credibility of the country for international investors.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

November 20, 2018 03:26 ET (08:26 GMT)