The company has raised planned investment by 25%
Enagás plans to invest an average of 900 million euros a year in 2008-2012 to bring on stream infrastructure
This investment plan supports Enagás' objective of continuing to guarantee the supply of natural gas, aiding the workings of operators in the Gas System and also backing the development of renewable energies
Enagás Chairman, Antonio Llardén, today unveiled the Company’s updated 2007-2012 Strategic Plan. In the new plan, the Company has raised investment for the period from 4,000 to 5,000 million euros, a 25% increase on the plan announced in April 2007. Of this amount, Enagás invested a record 500 million euros in 2007.
Under the terms of the new plan, investment forecasts have been raised as well as forecasts for bringing infrastructures on stream. In the 2008-2012 period the Company plans to invest an average of 900 million euros a year in infrastructure and bringing it on stream.
Enagás’ 2007-2012 investment plan largely concentrates on projects included in the revised 2005-2011 Obligatory Planning document.
In 2008-2012 a total of 2,700 million euros, 60% of total investment, is earmarked for the transmission business helping boost the Company’s gas pipeline network by 42% and nearly doubling the output of its compression stations.
Some 1,125 million euros, 25% of the total, will be invested in its regasification activity to increase LNG storage and vaporisation capacity by 80% and 33%, respectively. A further 675 million euros, 15% of the total, will be invested in storage infrastructure, raising the Company’s extraction capacity by 588% and its operating volume by 328%.