PM Sanchez: Spain Has Capacity to Become Gas Hub in Europe
(Reuters) — Spain has the capacity to become a gas hub for Europe to help support regional efforts to curb dependence on Russian gas, Spanish Prime Minister Pedro Sanchez told a news conference with his Polish counterpart on Wednesday.
"Spain is prepared to increase its solidarity measures," Sanchez said, adding that 20% of its imported liquefied natural gas (LNG) was re-exported to other EU countries in June.
The war in Ukraine has put into question Europe's energy dependence on Russia. Moscow has reduced gas supplies to the continent, blaming the disruption on sanctions imposed in retaliation for the war and delays in returning a repaired turbine.
Sanchez said Spain would do what it could to prevent Europe becoming an "energy hostage" of Russian President Vladimir Putin.
This week, energy ministers agreed in Brussels that all EU countries should voluntarily reduce gas use by 15% in a bid to save up supplies for winter.
Those with limited ability to export gas to EU neighbors can request a lower target, and a draft document seen by Reuters showed countries like Spain could offer a 7% reduction instead if they can show they have sent on most of the gas they can to EU neighbors.
Sanchez said his government was now working with the private sector and the Spanish congress on a contingency energy saving plan to meet the new target.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
Comments