(Updates with further details)
MADRID (Thomson Financial) - Enagas SA said it is targeting an additional
2.2-3.0 billion euros in investments following the government's approval today
of the National Energy Plan (NEP) from 2008-2016.
The gas distribution group had already announced investments of 5 billion
euros from 2007-2012, but was awaiting details of the new government plan before
updating its own investment strategy until 2016.
In a statement, Enagas said it will seek approval to build the bulk of the
new gas pipeline infrastructure called for under the NEP.
Earlier, the government announced 10.221 billion euros for the gas
transportation sector and 9.220 billion euros for electricity as part of the
NEP.
The NEP forecasts 5 percent average annual growth in gas demand over
2008-2016.
tfn.europemadrid@thomson.com
tr/ajb
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