Gas utility Poweo has written down €21.4 million ($30.2 million) on the Gaz de Normandie LNG project, contributing to its total €146.2 million losses for 2010.
The French company owns a 73.3% stake in the import development planned for Antifer near Le Havre.
It reaffirmed that the scheme is on the back burner until market conditions improve.
“It’s been frozen for the time being,” said investor relations director Patrick Massoni in a conference call.
