Spain possesses a diverse economy, with the nation’s overall energy mix heavily dominated by fossil fuels. The country consumed 4.97 exajoules of primary energy in 2020, with oil and natural gas accounting for more than 67.80% of its primary energy consumption.
While Spain is reliant on imports of oil and gas, its import sources and routes are varied. The Spanish gas infrastructure is a prominent player across Europe’s LNG supply. Natural gas that is not imported into Spain via international pipeline connections arrives as LNG through the six LNG regasification terminals currently operational in Barcelona, Huelva, Cartagena, Bilbao, Sagunto, and Galicia.
Since LNG is highly flammable and major exporting takes place through the sea, several regulations must be followed by industry players. Key regulatory authorities governing the country’s LNG industry entail the Ministry for the Ecological Transition and the Demographic Challenge (MITECO), the Corporation of Strategic Reserves of Oil Products (CORES), the National Commission of Markets and Competition (CNMC), the Institute for Diversification and Saving of Energy (IDEAE), and the Ministry of Industry, Trade and Tourism (MINCOTUR).
The overall coal consumption in Spain has reduced significantly over recent hears. Conversely, natural gas, nuclear energy, and renewable energy witnessed notable growth in terms of the country’s total primary energy consumption.
Some of the major LNG companies in the country are Enag?s, CEPSA, T?cnicas Reunidas, Reganosa, Gas Natural Fenosa (Naturgy), Repsol, etc.