gas natural fenosa

Gas Natural Fenosa invests €85 million in its first power generation project in Brazil

November 2, 2016 07:29 PM | ACN

The Barcelona-based energy company Gas Natural Fenosa, through its subsidiary Global Power Generation (GPG), has signed an agreement to acquire a majority stake of 85% in two solar plants in Brazil from Gransolar Group. The operation will involve an investment of €85 million to implement their first power generation project in the Brazilian market. The production of these two facilities will be about 154 GWh a year. With this agreement, and the construction of a 91 MW plant in Australia announced last August, the holding company GPG Gas Natural Fenosa has already exceeded the target of energy production set for 2018 in its strategic plan.

Strategic gas pipeline Midcat will be ready by 2020

October 5, 2015 03:26 PM | ACN / Sara Prim

“The EU expects that the Midcat will be built by 2020”, stated EU Commissioner for Energy and Climate Action, Miguel Arias Cañete. He made this statement this Monday during theNatural gas and the energy security of Europe’ seminar, organised by Gas Natural Fenosa. The Midcat pipeline is set to be built through the Catalan Pyrenees, linking the Iberian Peninsula with French and Central European networks and aims to reduce Europe's dependency on Russian gas by 40%. According to Cañete the project has a budget of 470 million euros, from which 170 million will have to be paid by Spain. Catalan Minister for Business and Employment, Felip Puig “lamented” the delay in this strategic infrastructure and attributed it to “the lack of enthusiasm” of the French government.

Christian-Democrat leader introduces new initiative to promote a Catalan State within Spain

November 24, 2014 09:57 PM | ACN

After months of speculation, Josep Antoni Duran i Lleida, the leader of the Christian-Democrat party UDC – which is the smallest force within the governing  two-party centre-right pro-Catalan State coalition CiU – presented his new political initiative to build an alternative option between the current territorial model and independence from Spain. Duran has been advocating for the creation of a confederated Catalan State within a more decentralised Spain, which would recognise Catalonia's nationhood, respect Catalan language and launch a fairer inter-territorial fiscal scheme for Catalan interests. With the platform 'Construïm' ('We build', in English), Duran is now trying to reach new potential voters "who feel orphaned from any political party"; voters worried about "social issues" and the economy, "beyond the debate about independence". With early elections on the horizon, the initiative is likely to represent the split of the CiU, which has been the main actor of Catalan politics for the last 35 years.

Barcelona-based Gas Natural Fenosa to make take-over of biggest energy distributor in Chile for €2.6 billion

October 13, 2014 08:32 PM | ACN

The energy company Gas Natural Fenosa announced they have launched a tender offer for 100% of the share capital of the Chilean Compañía General de Electricidad (CGE), which represents a €2.6 billion purchase. The transaction is to be the biggest international  acquisition by the Barcelona-based company. The total size of the operation, including the consolidated debt of CGE and its subsidiaries, is approximately €6 billion. It expected to generate over €600 million gross profit next year. Purchase of CGE, which distributes electricity to 43% of the Chilean market, and has 2.5 million customers, will increase the Catalan company's presence in Latin America. Furthermore, this deal will allow Gas Natural Fenosa to meet its 2015 growth targets and strengthen its presence in Latin America.

Gas Natural Fenosa earns €1.45 billion in 2013, a 0.3% increase

February 18, 2014 08:23 PM | ACN

Barcelona-based Gas Natural Fenosa earned €1.445 billion in 2013, 0.3% more than in 2012. The strong international customer base of the energy company has neutralized the “decline in business” in Spain. This fall at Spanish level was due to the fiscal pressure increase and to the impact of the latest Spanish Government’s reform of the electricity market, which led to a shortfall of €455 million in 2013 for the Catalan multinational. The aggregate EBITDA (Earnings before interest, tax, depreciation and amortization) stood at €5.085 billion, 0.1% more than in 2012. International business accounted for 44.1% of the EBITDA, while it had represented 43.2% in 2012. In addition, the Spanish market contributed to 55.9% of Gas Natural Fenosa’s EBITDA, a 1.6% drop on last year figures.

Barcelona-based Gas Natural Fenosa signs a supply contract with Azerbaijan for the next 25 years

September 19, 2013 10:33 PM | ACN

The Catalan company has signed an agreement with the Shah Deniz consortium for a 25-year period. The Azerbaijani company will supply 1bcm of natural gas per year. The agreement is conditional on the final decision on the project investment, a step planned for later this year. The development of this project will open a new supply route to Europe through the ‘Southern Corridor’, which will allow Europe to access gas reserves in the Caspian Sea area. Barcelona-based Gas Natural Fenosa will receive the gas in facilities based in Italy, one end of the European gas pipeline passing through Georgia, Turkey, Greece, Albania, and crossing the Adriatic Sea. The Catalan company said that this supply will consolidate its presence and strengthen its gas supply business in Italy.

Gas Natural Fenosa to provide liquefied natural gas to South Korean company Kogas for the next two years

September 12, 2013 10:39 PM | ACN

Barcelona-based Gas Natural Fenosa (GNF) has signed a contract with the South Korean company Kogas to supply between 1 and 1.5 bcm for the next two years. This is the first deal that Catalan GNF has signed with Kogas, the largest gas operator in South Korea and the biggest importer of LNG in the world. Furthermore, in recent months, GNF has signed contracts with companies in both Japan and India, contributing to its increase in the Asian market, which has a high growth potential in the coming years.  International sales now represent 30% of the total portfolio of the Catalan energy company.

Barcelona-based Gas Natural Fenosa to stay in Panama for 15 more years through Edernet and Edechi

August 14, 2013 08:55 PM | ACN

The multinational energy company has confirmed it will continue operating in Panama for at least 15 more years through its subsidiary companies Edernet and Edechi, which control 65% of the country’s electricity market, supplying more than 500,000 clients. Gas Natural Fenosa owns 51% of both Edernet and Edechi, while the rest of the shares are controlled by Panama’s Government. The Catalan multinational entered Panama in 1998. According to Gas Natural Fenosa, it has invested more than €400 million to strengthen the electric power network of the Central American country and it foresees an additional investment of €230 million within the next 4 years.

Gas Natural Fenosa makes a €780 million profit during the fist half of 2013 and increases its MedGaz ownership

July 30, 2013 11:03 PM | ACN

Furthermore the Catalan multinational announced it was expanding its shares within the MedGaz pipeline to 14.9%, which is one of the five pipelines that transport Northern African gas to Europe. The natural gas company reported that its profit levels for the first half of this year have increased by 1.7% from 2012 to €780 million. The Catalan multinational company highlighted how this increase was the result of the international growth of the industry which counteracted the relative stagnation in the domestic market. Gas Natural Fenosa’s EBITDA was also up on last year and totalled €2.63 billion, representing an increase of 2.9% compared to the same period last year.

Gas Natural Fenosa earns €411 million in the first quarter of 2013, 1% more than a year ago

May 8, 2013 12:34 AM | CNA

The international business of the Catalan energy company has been the main driving force behind the profit increase in the January-March period, compared to a year ago. Gas Natural Fenosa’s EBITDA which come from its international business increased by 8.1% while that coming from the Spanish market dropped by 2%. International business represented 44.1% of Gas Natural Fenosa’s total consolidated turnover during the first three months of this year. The consolidated EBITDA reached €1.33 billion, 2.2% higher than that reached in the first quarter of 2012. The company’s debt levels reached 50.9%.

Gas Natural Fenosa increased its net profit by 8.8% in 2012, earning €1.44 billion

February 19, 2013 09:45 PM | CNA

The Catalan energy multinational’s earnings before interest, taxes, depreciation and amortization (EBITDA) reached €5.08 billion, 9.4% more than in 2011, thanks to its international business, which grew by 22.6% and balanced out the stagnation in the Spanish market. In fact, Gas Natural Fenosa’s business in Spain now only accounts for 56.8% of its gross profits, while in 2011 this represented 61.5%. Furthermore, the firm’s financial debt decreased by 7.5% and now the company’s financial debt/EBITDA ration is 3.1. With these results, the Barcelona-based company has fulfilled the objectives of its strategic plan up until 2012.

Gas Natural Fenosa buys 10% of Medgaz submarine pipeline from Algerian company Sonatrach

February 13, 2013 08:41 PM | CNA / Clara Roig

Leading Catalan electric and natural gas company Gas Natural Fenosa has bought 10% of Medgaz, a submarine gas pipeline between Algeria and Europe that provides natural gas to the south of Europe. The pipeline has a capacity of transporting eight billion cubic meters per year and the acquisition has cost the Catalan company €61.9 million. Gas Natural Fenosa will use 10% of the transport capacity of the gas pipeline. The contract will last for 18 years.

Barcelona-based Gas Natural Fenosa signs an estimated €1 billion contract with Indian Gail

August 31, 2012 11:40 PM | CNA

The Catalan multinational company will provide Gail, the largest gas distributor in India, around 3 bcm of liquefied natural gas for three years. This quantity represents 10% of Spain’s annual gas consumption. Gas Natural Fenosa refused to disclose the value of the contract, but sources from the sector estimate it would be worth more than €1 billion. This would be the largest contract in Asia for this Barcelona-based company, which has a significant presence in South America.