• Natural Gas News

    Spain’s Enagas sees surge in gas demand

Summary

Natural gas has a role in decarbonisation efforts, the company said.

by: Daniel Graeber

Posted in:

Complimentary, Natural Gas & LNG News, Europe, Energy Transition, Corporate, Financials, News By Country, Spain

Spain’s Enagas sees surge in gas demand

Spanish energy company Enagas said October 26 that demand growth in the country suggested natural gas was pivotal to energy supply and low-carbon objectives.

Enagas in its report for the third quarter said total natural gas demand in Spain over the first nine months of the year was up 2.7% from the same period in 2020. Conventional demand, that coming from households and industries, was up 9% year on year and Enagas said that segment accounted for 78% of total natural gas demand in Spain.

“This positive evolution highlights the essential role of gas infrastructures in contributing both to energy supply and to achieving European decarbonisation targets,” the company stated.

Spain’s National Innovation Company and Enagas last month signed an agreement to promote public-private financing of sustainable business projects. Enagas said the deal would promote the energy transition through new business models such as biogas, hydrogen and sustainable mobility.

For its financial performance, Enagas said it realised a profit after tax of €307mn over the first nine months of the year. The company added that it remains committed to returning dividends during the five-year period ending in 2026.