LNG: Spanish Firms Not Seeking New Long Term LNG Deals
Mar-13 10:59
Spain's largest gas and LNG companies are suggesting a gradual retreat from the LNG business over the coming decade and not seeking to renew or sign new long-term LNG contracts, according to Energy Intelligence.
- The retreat is driven by falling domestic industrial gas consumption and an increased focus on the renewables sector.
- A new Naturgy strategic plan looks to further reduce its gas and LNG portfolio by 2027.
- Endesa seeks to exit the gas and LNG business by 2040 amid net-zero pledges.
- Repsol is focusing on opportunistic LNG trading and not seeking new long-term LNG supplies.
- Spain should avoid future supply issues due to the country’s large regasification capacity, greater spot LNG availability and expectation of lower gas demand.
Source: Energy Intelligence
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