Delays seen in Spain's three new regas plants -CNE

Date : 07/31/2008 @ 12:19PM
Source : TFN
Stock : Enagas Sa (ENG)
Quote : 2.69  -0.25 (-8.50%) @ 11:37AM
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Delays seen in Spain's three new regas plants -CNE

        MADRID, July 31 (Reuters) - Spain's energy watchdog expects three new
regasification plants to enter service between late 2011 and 2012, or up to 29
months later than originally planned. 
    Spain currently has six regas plants, which are needed to decompress and
transmit liquefied natural gas (LNG), of which the country is a major importer. 
    In its latest twice-yearly review of infrastructure projects released late
on Wednesday, the National Energy Commission (CNE) said Enagas's  Musel
plant would be delayed until December 2011, as would another plant in Tenerife. 
    Enagas officials were not immediately available for comment. 
    A third plant in Gran Canaria was not due for completion until June 2012. 
    Spain's government has promoted regas plants as a means of diversifying
supply for a country that depends almost entirely on imports for its growing
demand for natural gas. 
    Last year Spain imported about 65 percent of its gas in liquid form. Algeria
is the main supplier and provides some 35 percent of the country's gas needs. 
    The CNE also reported that plans to install three gas-fired power stations
in Spain with a total capacity of 1,200 megawatts have been shelved. 
    Out of 14 plants due on line in 2007, one 400 MW plant -- for EDP
-owned Cantabrico -- had been axed. 
    Of six plants originally due to enter production in 2008, the CNE logged the
cancellation of two 400-MW units sponsored by Global 3 Energia. 
    About 35 percent of Spain's electricity is generated by combined-cycle gas
generators. 
    Notwithstanding infrastructure problems, in a separate report the regulator
tallied new summer records for overall gas demand and for gas used in
electricity generation. 
    On June 20, demand for gas hit 1,403 gigawatt-hours (about 134 million cubic
metres), up from the previous record set on July 19 last year. 
    On the same date, 754 GWh of gas were supplied to generate electricity, up 2
percent from the previous maximum. 
    The figures are in line with gas industry forecasts for consumption to rise
this year by 10 percent to about 43 billion cubic metres. 
    (Reporting by Martin Roberts, editing by Anthony Barker) Keywords: NATGAS
SPAIN/ 
tf.TFN-Europe_newsdesk@thomsonreuters.com
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