Gazprom’s Headquarters has hosted today a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Jose Montilla, Spain’s Minister for Industry, Tourism and Commerce.
The parties expressed their interest in building long-term and mutually beneficial cooperation between Gazprom and Spanish energy firms both in Spain and third countries.
In particular, the parties addressed potential cooperation in LNG projects and stronger ties with Repsol, a prominent Spanish petroleum company.
Reference:
Domestic gas production currently meets only to 1% of Spain’s gas needs. With natural gas consumption on an annual 12% rise between 1990 through 2003 (from 5.6 up to 23.7 bcm, respectively), Spain is largely a pipeline gas (36%) and LNG (64%) importer.
Currently, the Spanish gas transmission network represents a complete system of 6,400-km-long pipelines. Spain relies on 4 LNG-reception terminals with some 22 bcm/y in overall throughput and is the second-largest European (after France) LNG importer.
The integrated international petroleum firm Repsol operates in more than 28 locations worldwide, is leader on the Spanish and Argentinean oil and gas markets and a prominent gas player in Peru and Ecuador. The company extracts over 1.1 mboe/d and its oil & gas reserves are valued at 5.4 bln barrels. As of April 2004, Repsol’s total proved reserves were evaluated at 3.7 bboe in Latin America and 0.4 bboe in North Africa.
Repsol is the world’s third liquefied gas producing company (3 mln t/y). Repsol is engaged in natural gas import, storage, supply and distribution in Spain and Latin America, serving 8.7 mln customers.
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