Imports of natural gas to Spain from Russia soared by 151.4% in February compared to the same month last year, reaching 5,465 gigawatt hours (GWh), according to data from the Corporation of Strategic Reserves of Petroleum Products (Cores). Russia is the third largest supplier of natural gas to Spain, with 17.2% of the total for the month. However, the volume of gas from Russia to the country was lower than…
Natural gas imports from Algeria to Spain plummeted by 40% in 2022, with Algeria falling to second place among suppliers and representing 23.9% of Spain’s total. These figures, according to sources in the sector, will continue to fall during this year, 2023, as “orders placed during the first months of 2022 for natural gas, before relations between Moncloa and Algiers broke down, have yet to be deducted”. And if this…
Spain has increased its imports of liquefied natural gas (LNG) from Moscow by 45%, according to data from the latest Enagás statistical bulletin, published by El Periódico de la Energía. According to the newspaper La Vanguardia, it all started when Algeria closed the Maghreb-Europe gas pipeline (GME), one of the two that supply Spain, after the spanish government changed its position to favour Morocco’s claims over the Sahara, in the…
Michael Bradshow ( The Conversation) | The UK government has been in emergency talks with leaders from the energy industry as gas prices (and with them, electricity prices) have soared to more than four times the level they were at the same time in 2020. Concerns are growing about the security of winter gas supplies, and industries reliant on gas, such as the fertiliser industry, are curtailing production, threatening various…
Repsol is making progress with the preparation of its new strategic plan which it will unveil on June 7. It aims to earmark 2.5-3 billion euros for acquisitions, compared with the 3.82 billion which it will obtain from the sale of its stake in Gas Natural to CVC.
Repsol’s sale of a 20% stake Gas Natural to CVC is near to being closed. The current value at market prices of 20% of Gas Natural is 3.708 billion euros. Furthermore, the stock has fallen nearly 6% in the year due to last markets turmoil. After its recent downward correction, Repsol’s stock price is back at an advantageous entry level.
Cepsa wants to open up a gap for itself in the sector for commercialisation of residential electricity and gas, with the aim of grabbing a 1o% share over the coming years. It will thus become one of the four main operators along with Endesa, Iberdrola or Gas Natural Fenosa.
Russia’s economy of 140 million people has managed to survive inflation (2.5%) and the fall in the rouble, although it needs to make the energy miracle last one decade more to offset sanctions.
An average user’s electricity bill rose 10.8% in 2017 from a year earlier, according to Facua-Consumidores en Acción (Consumers in Action). Whatsmore, Facua denounces the “brutal” 16% increase in tariffs for energy consumed.
Spain’s big utility companies have accused the Energy Ministry of “driving investors away” with their strategy of revealing the next milestones in the energy reform to the large investment banks. The main electricity firms (Iberdrola, Endesa, Gas Natural and REE) saw almost 3 billion euros shaved off their market capitalisation in just one day.