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Engas sees France’s position on nuclear hydrogen as “natural” and confirms that it “does not pose a danger” to the H2Med pipeline.

Enagás CEO Arturo Gonzalo said this Tuesday that he sees France’s position on nuclear-derived hydrogen, known in jargon as pink hydrogen, as “natural”, which the European Union is preparing to push as of clean origin, saying that it is “not Interferes” with the future H2Med pipeline that will connect Barcelona and Marseille for hydrogen export to Europe.

The executive does not believe that pressure from Paris poses “no risk” to the viability of the future pipeline, with which Spain aims to become Europe’s leader in green hydrogen (renewable) production.

“I think pink hydrogen does not pose a threat to infrastructure,” Gonzalo said: “French nuclear hydrogen will be part of the European mix” and “France is legitimately working to develop it.” “Tubes have no color.”

“This is something that does not interfere with our infrastructure at all” and “it is natural that all Member States exercise the ability to define their energy mix” and “that France’s vision fits into the European hydrogen horizon”.

Presenting the 2022 results at a press conference in Madrid, the executive said France’s position “in no way changes Spain’s commitment to renewable hydrogen” and poses “no risk to the viability of the infrastructure”. Yes, he “directly” ruled out that he will transport gas if, after it is put into operation, there will not be enough hydrogen production: “We are not considering, nor is it envisaged in the project, that it can be temporarily used for gas,” he said.

The CEO of Enagás noted that the pipeline is “designed for two-way flow”, however, as it was presented for the EU aid for projects of public interest, “it does not include a forecast for pink hydrogen” and it is assumed that the compression station is in Barcelona. As for its shareholding structure, he emphasized that it is the appropriate decision of the governments.

Gonzalo, who was appointed CEO of Enagás just over a year ago, noted that 2023 will be a “decisive” year for green hydrogen, with the update of the Integrated National Energy and Climate Plan (PNIEC) and approval of the regulatory framework. Energy vector in Europe.

Regarding the El Mouzel plant, recently opened by Enagás to turn it into a gas storage facility for the European Union, he said that “it is going as I have seen”, in the absence of three authorizations from the ministry. Ecological Transition, Government of Asturias and Gijón City Council. “There continues to be huge commercial interest in a new scenario” for LNG exports at a time when floating regasification plant projects are proliferating in Europe with “little flexibility”. On March 2, the first communication with the market of interest in the products of the Asturian factory will take place.

As for the Barcelona-Livorno gas pipeline project, this is an infrastructure that, although not “definitely” out of the question, is “not a priority for Spain or Italy”. And, regarding the sealing of the Castor underwater storage facility, Enagás is “awaiting” the Environmental Impact Statement (DIA), which the Ministry should publish “soon”

375 million profit

The owner of the Spanish gas pipeline network, the largest shareholder of which is the state with 5%, lost 375.8 million last year due to the impact of the 2021-2026 regulatory framework. 380 to 390 million in profit, which included a net capital gain from the sale of the Morlos pipeline (Mexico), an operation expected to close in the first four months of this year with a capital gain of 40. million.

The company highlighted that amid “historic” security-of-supply drills amid high volatility in energy markets and the war in Ukraine, Spain met its European commitments to replenish gas storage, bringing the total to 93. % and still today, after part of the winter, at 82%, “a very favorable starting point for the coming winter,” according to Aizpir.

Spain’s gas system operates with “100% availability 24 hours a day, every day of the year” and its infrastructure has been key to the security of supply for Spain and the EU. In 2022, natural gas arrived in Spain from 19 different countries, and a historical record of gas exports to France was achieved.

Overall, gas and export demand increased by 4.4% in 2022, with a 52.7% increase in demand for combined cycles and a 21.4% decrease in conventional industrial consumption demand, although Gonzalo stressed that there was a ” Strong recovery” in February, from 20% to 50% compared to January, in some sectors “almost to pre-war levels”.

Conventional demand (industrial and domestic) is forecast to increase by 11%, while electricity production is forecast to decrease by 22%. This would reduce the national demand by about 2%.

Gas exports to Europe through the interconnection with France increased by 22 TWh last year, while 35 TWh, equivalent to 35 methane tankers, were sent to the neighboring country. Filling of liquefied natural gas (LNG) vessels from Spanish terminals increased by 45%, the third highest historical value.

Enagás emphasized that it was able to meet all the tasks set for 2022 thanks to the “high” quality of execution of the strategic plan, since its presentation on July 12. The group expects a net profit of 310 to 320 million this year as a result of the new remuneration framework, operating profit (ebitda) of 770 million and net debt of 3,700 million.

Total revenue amounted to 970.3 million euros, which is 2.1% less than registered in 2021, and ebitda reached 797.4 million, 10.9% less. Net debt decreased by 19% to 3,469 million due to higher cash generation, investment-participating dividends, the sale of GNL Quintero and improved working capital due to higher infrastructure utilization.

The regulated income at the end of 2022 amounted to 950.4 million, 1.8% less, with the implementation of the regulatory base for 2021-2026 (-45.1 million). This impact is partially offset by reimbursement of audited expenses (approximately 38 million).

Source: El Diario





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