Gas Natural Fenosa to expand LNG fleet, eyes FSRU

Spanish LNG operator, Gas Natural Fenosa intends to expand its LNG fleet by chartering four new carriers and incorporating one floating regasification unit. 

The company intends to invest €8.1 billion in various projects during the 2016-2018 period and €14 billion by 2020, with €1.2 billion dedicated to the fleet expansion, Gas Natural Fenosa said in its statement last week.

Further €400 million will be invested into the LNG sector by 2020, under its new strategic plan for 2016 – 2020, chairman, Salvador Gabarró and CEO Rafael Villaseca said.

Gas Natural Fenosa aims to respond to the predicted growth in demand for LNG by the addition of 11 bcm to its sales volumes, which will begin supplying from 2017 to 2021.

It is looking to up its gas sales volumes to 32 bcm by 2018, from its current sales volumes that stand close to 27 bcm, in an attempt to boost the competitiveness and flexibility of its portfolio.

GNF expects LNG to have a larger share in the energy sector as the mix of power generation shifts towards renewables and natural gas.

LNG World News Staff