Gas & LNG in Iberian Peninsula
The Iberian region of Spain, Portugal, Andorra and southern France relies heavily on natural gas to provide clean, cheap and flexible energy for their economies and for their people. Thus, the Iberian Peninsula is one of the largest consumers of liquefied natural gas (LNG) in the world and possesses by far the largest regasification capacity in Europe (23% of global total). Its pipeline networks are critical for feeding gas into the European Union’s networks and the region is not only an attractive point of sale for LNG cargoes but also a key importer of Algerian and North African gas via the MEDGAZ Mediterranean pipeline.
The Iberian Peninsula has long been regarded as an important strategic gateway into southern and western Europe and through Spain and Portugal’s advanced storage, transmission and regasification capabilities this trend is set to continue - especially as LNG becomes a more global, fluid and competitively-priced commodity. With the support of Spain’s advanced financial and regulatory systems, the country is in a robust and competitive position to provide excellent global LNG trading opportunities as the popularity of the fuel grows and new market opportunities open up across Europe and internationally.
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