The company will maintain its debt ratios and shareholder remuneration policy, with a payout of 60%
Conventional demand for natural gas looks set to grow at an annual rate of 2%, according to Enagás GTS forecasts.
The investment plan, adapted to the new economic environment, is designed to meet the company's commitment to continue guaranteeing the security of the national energy system.
Enagás Chairman Antonio Llardén unveiled the Company’s updated 2010-2014 Strategic Plan today.
Enagás will invest an average of €700Mn per year between 2010 and 2014, which adds up to a total of €3,500Mn. In addition, the company will put €3,400Mn worth of assets into operation, an average of €680Mn annually. Investments in new infrastructure are in line with those set forth by Ministry of Industry in its draft “Annual Infrastructure Plan Proposal”.
This investment plan is compatible with the financial soundness of Enagás. Llardén confirmed that the company, which currently has €2,200 million of liquidity, “already has sufficient financial wherewithal to carry out our planned investments for 2010, 2011, 2012, 2013 and part of 2014”.
With the construction and start-up of all these infrastructure projects, Enagas aims to ensure the security of the national energy system, so that it can continue meeting demand in any situation, including during peak consumption periods.
Conventional demand for natural gas (domestic/commercial, industrial and cogeneration) will grow at an annual rate of 2%, according to Enagás GTS forecasts.