Naturgy unsure if Spain could help bolster Europe’s gas supply

MADRID (Reuters) – It remains unclear whether Spain’s LNG capacity could be used to help manage any shortfall in European gas if Russia were to halt supplies, the global head of controlling at power and gas group Naturgy said on Friday.

Spain operates six of the regasification plants needed to take delivery of liquefied natural gas and return it to a form that can be used as fuel, more than any other European country.

“We (Spain) have infrastructure but we have to see whether it would be possible to get spare LNG capacity to make up for the shortfall,” Jon Ganuza said in response to a question by an analyst on a conference call.

Most of Spain’s LNG plants are owned by system operator Enagas.

“If we reach that scenario and see Russia would eventually no longer supply gas to Europe, I think in that scenario all cards are open, all options are open, so it would be pure speculation on our part to say what is going to happen.”

Asked whether the Spanish government or European authorities could order the company to increase volumes of gas coming from North Africa, Ganuza said there was not enough flexibility in their current contracts for a big increase.

“It would be a drop in the bucket, the flexibility we have in our contracts compared with (any) shortfall in Russian gas,” Ganuza said.

(The story corrects to show global head of controlling, not CEO, was speaking)

(Reporting by Isla Binnie; Editing by Elaine Hardcastle)