Natural gas is a fossil fuel majorly comprising methane. Like other fossil fuels, it is formed deep beneath the earth’s surface due to the decomposition of dead plants and animals under extreme heat and pressures. Although natural gas is cleaner than most other fossilized fuels, its calorific value is lower than fossil fuels such as petrol, diesel, and LPG. Liquified natural gas (LNG) entails compressed natural gas liquified at -290 degrees, useful for transportation and heat generation.

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Spain’s LNG import terminal network and bunkering capacity primarily fuel the expansion within the country’s gas and LNG markets. In addition, the diverse gas and LNG supply chain, the continued growth of the MIBGAS Iberian gas spot market, and greater gas and LNG trading and optimization opportunities within the Spanish market play a vital role in establishing the country as a gas and LNG hub.

Natural gas is crucial in terms of accomplishing the energy transformation in Spain. The strong demand for natural gas for power generation, in addition to the increased industrial usage, is primarily accredited to this growth. While natural gas accounts for 23.49% of primary energy use, natural gas transportation and distribution networks in Spain equated to around 94,300 kilometers in 2020.

The history of LNG in Spain dates back to 1969, with Barcelona LNG Terminal commencing operations. Further, in 1989, the Cartagena LNG Terminal was launched a year after the Huelva LNG Terminal. Subsequently, in 2000, Spain had more than 5,000 kilometers of gas pipelines.

The top LNG companies in the country are Enagás, CEPSA, Reganosa, Gas Natural Fenosa (Naturgy), Técnicas Reunidas, and Repsol and others.

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