Gas Natural 2010 profit below forecasts

* Net profit 1.2 billion euros vs forecast 1.41 billion

* EBITDA 4.477 billion euros vs forecast 4.618 billion

MADRID, Feb 21 (Reuters) - Spanish gas and power utility Gas Natural (GAS.MC) made full-year net profit of 1.2 billion euros ($1.64 billion), missing forecasts by 200 million, according to a document accessed by Reuters.

The 2010 results, due on Tuesday, reflect a provision of 305 million euros against a potential $1.970 billion back payment to Algerian gas provider Sonatrach, which is being debated in the courts.

Full year net profit rose 0.5 percent, as higher financial costs and depreciation charges crimped a rise in profit before interest, taxes, depreciation and amortisation (EBITDA), which climbed 14 percent.

Eight analysts surveyed by Reuters had forecast net profit growth of 18 percent to 1.41 billion euros and similar growth in EBITDA to 4.618 billion. ($1=.7316 Euro)

(Source: http://www.reuters.com/article/2011/02/22/gas-natural-idUSLDE71K1BL20110222)