Latest news with #Enagas
Reuters
26-05-2025
- Business
- Reuters
Arbitration body raises amount awarded to Enagas to $302 million in process against Peru
MADRID, May 26 (Reuters) - Spanish gas grid operator Enagas ( opens new tab said on Monday the World Bank's International Centre for Settlement of Investment Disputes (ICSID) raised the amount the company is entitled to be paid in an arbitration process over a pipeline it built in the country. ICSID ordered Peru to pay the company $302 million, up from $194 million it awarded in its original ruling in December, the company said in a filing to the stock market regulator. Enagas had originally requested a $505 million compensation from the Peruvian government and reported a capital loss of 246 million euros ($281 million) in the fourth quarter last year on the amount it was entitled to by the first ruling. ($1 = 0.8763 euros)
Yahoo
09-05-2025
- Business
- Yahoo
Spain's LNG imports from the US soar, represent 35% of all gas supply
(Reuters) -Imports of liquefied natural gas from the United States rose to 35% of Spain's total gas imports in the first four months of this year from just over 20% a year ago, while imports of Russian LNG declined, data showed on Friday. Europe has increasingly imported superchilled gas shipped from the U.S. since Russia's invasion of Ukraine significantly reduced the amount of Russian gas piped to Europe. In the first four months of the year, Spain imported the equivalent of 45,932 gigawatt-hours (GWh) of gas from the U.S., compared with 24,885 GWh a year earlier, according to data from Spanish gas grid operator Enagas. The U.S. has become the main gas supplier to Spain, replacing Algeria, which ships liquefied gas and also pumps gas directly to Spain through pipelines. Spain's overall gas demand declined by 3%, Enagas said. The U.S. liquefied gas also replaced the liquefied gas sent from Russia. As a share of Spain's total imported gas, Russian gas fell to 13.3% in the first four months of this year down from 22.4% in the same period last year. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
09-05-2025
- Business
- Reuters
Spain's LNG imports from the US soar, represent 35% of all gas supply
May 9 (Reuters) - Imports of liquefied natural gas from the United States rose to 35% of Spain's total gas imports in the first four months of this year from just over 20% a year ago, while imports of Russian LNG declined, data showed on Friday. Europe has increasingly imported superchilled gas shipped from the U.S. since Russia's invasion of Ukraine significantly reduced the amount of Russian gas piped to Europe. In the first four months of the year, Spain imported the equivalent of 45,932 gigawatt-hours (GWh) of gas from the U.S., compared with 24,885 GWh a year earlier, according to data from Spanish gas grid operator Enagas ( opens new tab. The U.S. has become the main gas supplier to Spain, replacing Algeria, which ships liquefied gas and also pumps gas directly to Spain through pipelines. Spain's overall gas demand declined by 3%, Enagas said. The U.S. liquefied gas also replaced the liquefied gas sent from Russia. As a share of Spain's total imported gas, Russian gas fell to 13.3% in the first four months of this year down from 22.4% in the same period last year.
Reuters
25-04-2025
- Business
- Reuters
Spain's national hydrogen network plan ahead of schedule, Enagas chief says
PUERTOLLANO, Spain, April 25 (Reuters) - Plans to build a 2,600 km (1,615 mile) hydrogen network in Spain are advancing ahead of schedule and the infrastructure is on track to start operations in 2030, the chief of Spanish gas grid operator Enagas ( opens new tab said on Friday. The network will be part of the planned trans-European H2Med corridor aimed at connecting the Iberian region with northwest Europe. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. The company plans to take a final investment decision in 2027 and start construction the following year, Chief Executive Arturo Gonzalo said at an event to launch a public consultation process related to the project. The Spanish network will include new pipelines as well as some repurposed gas assets, he said, for an overall investment of some 2.6 billion euros ($2.95 billion). "The project is starting to become a reality, it is progressing at a very good pace, even faster than expected," he said. "Today we are setting in motion a key milestone to make a hydrogen infrastructure a reality in Spain." Enagas is among the staunchest supporters of a green hydrogen industry, which uses renewable energy for its production, and still faces high costs, heavily depends on subsidies and is struggling to find buyers for its production. With Spanish gas demand falling, the company is diversifying into managing a network of hydrogen infrastructure. It is also targeting ammonia and CO2 capture. To fund its plans, it has sold assets, reduced dividends and cut debt. The plans are in line with Spain's ambitious green agenda. Thanks to abundant solar and wind power, the country is vying to be a European leader in green hydrogen. It set a 2030 target of 12 gigawatts for electrolysers used to make green hydrogen. ($1 = 0.8811 euros)
Reuters
18-02-2025
- Business
- Reuters
Spain's Enagas plans multibillion-euro investment in hydrogen infrastructure
Summary Companies Enagas to invest 4.04 billion euros by 2030 Hydrogen to account for 3.13 billion euros of investment Enagas also plans to diversify in ammonia and CO2 capture Expects decline in profitability this year MADRID, Feb 18 (Reuters) - Spanish gas grid operator Enagas ( opens new tab plans to invest more than 4 billion euros ($4.18 billion) by the end of the decade, with more than three quarters of that earmarked for hydrogen infrastructure. With Spanish gas demand falling, Enagas has sold assets, reduced dividends and cut debt to fund plans to diversify into managing a network of hydrogen infrastructure. It is also targeting ammonia and CO2 capture. Hydrogen will be "the driving force to advance towards the Enagas of the future", Chief Executive Arturo Gonzalo said on Tuesday. Of the planned 4.04 billion euros in net investment between 2025 and 2030, hydrogen infrastructure will account for 3.13 billion euros, Gonzalo told analysts as he presented the company's strategic update. Enagas, in which the state owns a 5% stake, is part of a consortium working on the planned trans-European H2Med corridor aimed at connecting Iberia's hydrogen networks with northwest Europe. It also plans to build a hydrogen network in Spain. The company expects to invest 520 million euros in gas networks and a further 225 million euros in a new company, Scale Green Energy, focused on infrastructure and services in businesses such as CO2 capture. The company expects core profit of about 875 million euros in 2030. The hydrogen business is expected to contribute about 290 million euros, with its other gas business contributing 400 million euros. This year's core profit is forecast to fall to 670 million euros from 760.7 million euros last year, the company said, with net debt remaining around 2.4 billion euros. ($1 = 0.9561 euros)
