Ramón Adell is a board member of a large listed energy company, Naturgy, and several others. Right now, the Spanish business world is partly caught up in a wave of ICO loans and labour market measures such as ERTEs. Q: What effects do you think this bubble has had on the culture and management of companies in our country? A: There is still a certain anaesthesia in part of the…
The energy company, which on 15 September will pay a second dividend of 0.40 euros per share, offers electricity at 66 euros/MWh to its customers for three years.
Link Securities | The Ministry of Ecological Transition has left the control of Medgaz in the hands of Sonatrach (51%) and Naturgy and Blackrock (49%). The submarine pipeline is the main entry point of natural gas into Spain until 2031. On July 5th, the fourth vice-president and Minister for Ecological Transition, Teresa Ribera, agreed to grant an exemption to the holders of the pipeline which frees them from the obligation…
IFM’s takeover bid for 22.7% of the capital of Naturgy (NTGY) at a price of 22.07 euros/share ended Thursday, with a level of acceptance of 10.83%. Far below the aspirations of the Australian fund. Naturgy shares rose on Thursday by 4.62% to 24.01 euros/share (a high of 24.87 euros/share) and closed on Friday at 23.25 euros/share. Today, Monday, it is still trading at 23 euros per share. Analysts suspect that…
Naturgy (NTGY) has reached an historic agreement with the Algerian company to expand the capacity of the Medgaz pipeline that supplies natural gas to Spain. The agreement provides for a 2 bcm (2,000 million cubic metres) per year increase in the pipeline’s capacity, 25% more, to over 10 bcm/year from the fourth quarter of this year. Once the extension is operational, 25% of Spanish natural gas consumption will pass through…
CriteriaCaixa, which with 24.8% of the capital is the main shareholder of Naturgy, the third Spanish energy company, not only will not go to the offer of the Australian IFM, already completely out of price, but has also reaffirmed its willingness to reach the limit of 30% prior to the forced launch of a takeover bid (OPA).
Iberdrola is the Spanish energy brand with the highest growth in brand value, with a 1.4% increase in brand value and remains the most valuable Spanish energy company in the world according to Brand Finance, the intangible valuation consultancy. Furthermore, Iberdrola is the only Spanish company in the sector’s top 10. It ranks 6th in the table and has a value of €4.38 Bn. The ranking is headed by China’s State Grid with €46.9 Bn.
Naturgy will incorporate BlackRock’s Global Energy & Power Infrastructure Fund (GEPIF) as a financial partner in its purchase of 34.05% of Medgaz. To this end, it has sold 50% of the vehicle which will control its participation in the underwater gas pipeline running between Spain and Algeria.
Naturgy has agreed with Eni and Egypt to end their dispute over Unión Fenosa (UFG), in which the Spanish and Italian firms own 50% each. The company said the agreement includes the payment of 600 million dollars (about 547 million euros) in cash and most of the company’s assets outside of Egypt, excluding UFG’s business activities in Spain.
Morgan Stanley | Our estimates of Naturgy (NTGY) for 2022 are 18% below the objectives set by the company. This is due to our negative vision in LNG and in Latin American currencies.