LNG

Enagás, the Spanish natural gas operator of six large LNG terminals and with gas assets in other European countries and overseas, reported a fall in net profits as Spanish gas and power demand dropped, offset by a one-time gain from the sale of a stake in a gas pipeline in Mexico.

Enagás, the Spanish gas grid and LNG terminals operator, has acquired the Reganosa gas pipeline network in Northern Spain while Reganosa is becoming a 25 percent shareholder in the El Musel regasification and import terminal on the Bay of Biscay previously 100-percent owned by Enagás.

Spanish terminals and network operator Enagás loaded Germany's first floating storage and regasification unit (FSRU), the “Höegh Esperanza”, before it arrived on December 15 at the German North Sea port of Wilhelmshaven. 

Enagás executives and Spanish local and government officials have visited the Spanish Gijón regasification terminal at El Musel in the Asturias region of northwest Spain and have proposed the facility as an LNG hub for re-exporting cargoes into the European Union.

After their visit and talks on July 7, the Spanish issued a statement saying that the El Musel terminal could contribute up to 8 billion cubic metres per annum of LNG deliveries and contribute to the EU’s energy security.

Present at the El Musel talks were Spain’s Vice President and Minister for Energy and Ecology, Teresa Ribera, the President of the Asturias region, Adrián Barbón, the Mayor of Gijón, Ana González, and the Chief Executive of Enagás, Arturo Gonzalo.

Enagás has capacity at six LNG regasification terminals in Spain. It owns five terminals at Barcelona in the northeast, at Cartagena in the southeast, at Sagunto in the east of Spain, at Huelva in the southwest and at the El Musel facility.

It also owns a 50 percent stake at another northwest facility serving the northwest port of Bilbao and owns two small regasification terminals in the Canary Islands.

The statement went on to explain that logistical use of the El Musel facility would contribute energy supply in Europe because of the reducing dependence on Russian pipeline natural gas.

“The terminal allows the unloading of LNG carriers from various producing countries and the rapid re-loading of ships for different European destinations,” they explained.

Storage and berths

The El Musel facility has a storage capacity of 300,000 cubic metres in two tanks each with 150,000 cubic metres of capacity.

It also has docking and unloading facilities designed for the largest LNG carriers such as the Qatari Q-Max vessels of 266,000 cubic metres capacity.

Enagás disclosed after the meeting at El Musel that it had obtained the Administrative Authorization for El Musel’s use as a hub, a key step in starting up the Asturian terminal, and added that it could be operational for logistics use within a period of between six and eight months.

“The facility can contribute to the security of energy supply in Europe, with the capacity to unload and load 100 LNG ships per year,” said the statement.

This authorization will follow soon after a favourable report from Spain’s National Commission of Markets and Competition (CNMC), clearing the way for the approval of the Environmental Impact Statement (DIA) for the terminal and its support facilities.

El Musel will have a special status so that it can be used for LNG logistical services with a start-up order from the Energy Ministry and with Enagás in charge of the technical operations.

“Once this process is finished, the plant could be operational for logistical use in a period of between six and eight months,” explained Enagás CEO Gonzalo.

“At the Gijón terminal they can unload and load more than 100 LNG ships per year, which represents a contribution of up to 8 Bcm,” added Gonzalo.

Spanish Prime Minister Pedro Sanchez said the European Union should pay for pipeline interconnections with Spain if they wish to have alternative supplies to replace Russian gas from Gazprom.

May 30 (LNGJ) – Two LNG cargoes are heading for Spain as European Union gas prices remain high at around the equivalent of $27.35 per million British thermal units for the Dutch Title Transfer Facility price. The 174,000 cubic metres capacity vessel “Maran Gas Pericles” is scheduled to discharge a cargo on June 1 at the Barcelona LNG import terminal in northeast Spain, according to shipping data. A second Nigerian shipment is then due at the Barcelona facility on June 6 on board the 143,000 cubic metres capacity carrier “LNG River Orashi”, which lifted the cargo from the Nigeria LNG plant on May 18.

Enagás, the Spanish gas grid and LNG terminals operator as well as a shareholder in the Trans-Adriatic Pipeline (TAP), reported a 9 percent drop in profit after tax even as LNG activities increased.

Dec 20 (LNGJ) - Cargoes are heading this week for the West and East Mediterranean. The 170,000 cubic metres carrier “LNG Port Harcourt II” is scheduled to discharge a shipment on December 24 at the Cartagena import facility in southeast Spain from the Bonny Island plant on the Niger Delta, according to shipping data. The 205,940 Q-Flex carrier “Al Ghariya” will deliver a Qatari cargo on December 25 to the Aliaga terminal in Turkey.

June 22 (LNGJ) - The European natural gas and LNG benchmark price, the Dutch Title Transfer Facility, increased to a 2021 high of $10.30 per million British thermal units as cargoes headed for Spanish ports from Russia and Nigeria. The 172,600 cubic metres capacity carrier “Christophe de Margerie” was scheduled to deliver a cargo on June 25 to the port of Bilbao in northwest Spain from the Yamal LNG plant in Russia, according to shipping data. Another cargo was due on June 25 at the Cartagena terminal in southeast Spain from the Nigerian plant at Bonny Island on board the 148,452 cubic metres capacity vessel “LNG Imo”.

Enagás, the Spanish national gas grid operator with Europe’s largest LNG import terminal network, posted lower first-quarter net profits, though praised the contribution to earnings of its Trans-Adriatic Pipeline (TAP) investment.