Spain

Spanish Natural Gas Prices Hit Record as Competition for LNG Cargoes Heats Up

Spanish Natural Gas Prices Hit Record as Competition for LNG Cargoes Heats Up

Global natural gas prices continued a relentless move higher on Friday, as spot prices in Spain shattered records and all-time highs in the northern Asia market showed no signs of slowing amid a cold snap and supply crunch supporting the bullish run.  In Spain, a major gas-consuming country that hosts more liquefied natural gas (LNG)…

January 8, 2021

Canaport LNG Sale Eyed by Repsol

Spain’s Repsol could opt to sell its 75% stake in the Canaport LNG terminal in Saint John, NB, as part of a plan to refocus operations and streamline its balance sheet, the company confirmed.

July 25, 2012

Repsol, Maritimes Face Possible Downgrade by Moody’s

In the wake of last week’s decision by the Argentine government to nationalize YPF SA, Moody’s Investors Service has placed Spain’s Repsol and Maritimes & Northeast Pipeline LLC (M&N) under review for possible downgrades.

April 25, 2012

Pemex, Repsol Sign 10-Year Strategic Alliance

The governing boards of Mexico’s Petroleos Mexicanos (Pemex) and Spain’s Repsol YPF announced Tuesday that they have signed a 10-year strategic alliance and plan to cooperate in several areas, including exploration and production (E&P) and liquefied natural gas (LNG).

March 1, 2012

Industry Briefs

Even in a period of slowing U.S. wind development, Spain-based Iberdrola Renewables announced that it will spend $6 billion in the United States for new and upgraded wind developments through the end of this year. Iberdrola Chairman Ignacio Galan made the commitment during a meeting earlier in May with the U.S. secretaries of Energy and Commerce. The company head said $3.9 billion will be focused on construction of new wind farms and they will be eligible for up to $1 billion from the Department of Energy’s loan guarantees under the federal stimulus program. The remaining $2.1 billion in investment will be used for what Iberdrola called “improving the quality of supply” to an existing base of 2.4 million customers that Iberdrola serves in the United States. Iberdrola said it installed 1.78 GW of wind power capacity last year in the United States, and it estimates that 1.5 GW of U.S. wind power will be added this year.

May 19, 2011

Cheniere Finds Two More Firms Interested in Sabine Pass Capacity

Cheniere Energy Inc. announced Thursday that it has entered into negotiations with two European companies — Spain’s Endesa SA and Italy’s Enel Trade SpA — to contract up to 1.5 million tons per annum (mt/year) of bi-directional liquefied natural gas (LNG) processing capacity at the Sabine Pass LNG terminal in Louisiana.

February 22, 2011

Sabine Pass Capacity Attracts Two More Firms to Cheniere

Cheniere Energy Inc. announced Thursday that it has entered into negotiations with two European companies — Spain’s Endesa SA and Italy’s Enel Trade SpA — to contract up to 1.5 million tons per annum (mt/year) of bi-directional liquefied natural gas (LNG) processing capacity at the Sabine Pass LNG terminal in Louisiana.

February 21, 2011

Industry Brief

Iberdrola USA Inc., a unit of Spain’s Iberdrola SA, has completed the sale of two natural gas distribution companies in Connecticut and one in Massachusetts to UIL Holdings Corp. in a deal valued at about $1.25 billion after adjustments. The sale involves Connecticut Natural Gas Corp., The Southern Connecticut Gas Co. and The Berkshire Gas Co. The companies distribute approximately 56.5 Bcf gas per year to nearly 369,000 customers in Connecticut and Massachusetts, and have a combined workforce of about 800. The deal was announced last May (see Daily GPI, May 26).

November 19, 2010

UIL Acquiring New England LDC Trio

UIL Holdings Corp. has agreed to acquire three natural gas utilities — Southern Connecticut Gas Co. (SCG), Connecticut Natural Gas Corp. (CNG) and The Berkshire Gas Co. — from a unit of Spain’s Iberdrola SA for $1.296 billion in cash less net debt of $411 million.

May 31, 2010

UIL Picking Up New England Gas Utility Three-Pack

UIL Holdings Corp. has agreed to acquire three natural gas utilities — Southern Connecticut Gas Co. (SCG), Connecticut Natural Gas Corp. (CNG) and The Berkshire Gas Co. — from a unit of Spain’s Iberdrola SA for $1.296 billion in cash less net debt of $411 million.

May 26, 2010
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