UPDATE 3-Enagas upbeat on 2010 after 2009 profit growth

* Sees double digit growth in state-paid revenues in 2010

* Core earnings, net profit also seen up over 10 pct in 2010

* 2009 net profit 298 million euros vs 284 million forecast

* Shares up over 3 percent, outperform market

(Updates with chairman's comments, 2010 outlook)

By Jonathan Gleave

MADRID, Feb 2 (Reuters) - Spain's gas grid operator Enagas (ENAG.MC) was upbeat on growth for this year after cost controls and cheaper debt swelled profits 15 percent in 2009, pleasing investors in a sector hammered by falling energy demand.

The first European utility to report 2009 results also said it expected double-digit growth in state-paid revenue to cushion it from Spain's economic crisis and the lacklustre growth in gas demand it expects for this year.

"We hope in 2010 to maintain average level of efficiency and perhaps improve it. We are making the most of being able to get our services at lower prices due to the crisis," Enagas chairman Antonio Llarden said on a conference call after the results.

At 1240 GMT, Enagas shares rose 3.41 percent, outperforming a 0.43 percent gain in the Dow Jones European utilities index .SX6E.

State payment for the record 965 million euros ($1.34 billion) of gas assets brought on stream in 2009, together with expected efficiency gains and lower debt costs in 2010 led the utility to forecast double-digit growth in core earnings and profits for the year.

"This company doesn't post profits just because it invests more, they also come from efficient management as we have shown in 2009," the chairman said.

Enagas' 15 percent rise in 2009 net profit to 298 million euros was fuelled by a 10.7 percent fall in operating costs and a 139 basis point reduction in its average cost of debt, thanks partly to a series of bond issues in 2009.

Net profit beat forecasts for 284 million euros from a poll of nine analysts, while earnings before interest, taxes and other items (EBITDA) increased 10.2 percent to 701.3 million euros. (Editing by Sharon Lindores) ($1=.7188 Euro)