· Enagás to invest over €55Mn through 2011
· Demand for natural gas in Madrid grew 4.5% in 2007
The President of the government of Madrid, Esperanza Aguirre, met the Chairman of Enagás, Antonio Llardén, today.
During their meeting, Antonio Llardén highlighted that in the region of Madrid Enagás has 435km of gas pipeline, a compression centre in Algete and one transmission station in San Fernando de Henares.
Enagás’ Chairman also pointed out that, under the revised Spanish Electricity and Gas Infrastructure Plan for 2005-2011, the Company will invest over €55Mn, primarily on the Semicircle pipeline in southwest Madrid, slated for completion by the end of the first half, and the Zarza de Tajo-Yela and Algete-Yela pipelines that will connect the planned underground natural storage facility at Yela (Guadalajara) to the network.
This facility, including its adjacent infrastructure, will entail investment of over €400Mn. Given its strategic position in the centre of the country and its proximity to Madrid and thanks to planned natural gas storage volumes of 1.05 bcm, the facility is key to guaranteeing the security of supply of the Spanish gas system and endowing it with increased flexibility.