Antonio Llardén: “Spain can contribute to the security of energy supply within the European Union”

18 March 2016

• Llardén set out the outlook for 2016-2020, in which there are expected to be investment opportunities in the midstream sector
• The 2015 results, outlined by the Chief Executive Officer, Marcelino Oreja, have allowed the company to meet its targets for the ninth year running
• The chairman, Antonio Llardén, underlined the company's commitment to achieving a 5% annual increase in the dividend by 2020
• Enagás continues to adopt the best Corporate Governance practices, in line with the recommendations of investors and proxy advisors
• Last year, the company expanded its workforce by 11%, increasing the number of women in executive positions by 30%
• The measures adopted in last years in the area of energy efficiency have allowed Enagás to reduce its carbon footprint by 47% in 2015
• The company has been recognised as a leader in the Gas Utilities sector in the Global 100 Most Sustainable Corporations in the World index, presented at the most recent World Economic Forum in Davos
• Marcelino Oreja highlighted the Enagás Corporate Entrepreneurship and Open Innovation Project, with a view to encouraging innovation, “a key strategic value for the future”
• The General Shareholders’ Meeting gave its approval to all the proposed resolutions on the meeting agenda

Enagás’ Executive chairman, Antonio Llardén, today chaired the General Shareholders’ Meeting which approved the 2015 financial statements, the management report and the other resolutions included on the agenda.

At the meeting, the Executive Chairman and the Chief Executive Officer, Marcelino Oreja, outlined the 2015 results and Enagás’ targets and outlook of Enagás for the period from 2016 to 2020, as presented in February.

2016 Enagás Shareholders' meeting

The Chief Executive Officer summarised the figures for 2015, a year in which Enagás recorded net profits of 412.7 million euros, representing an increase of 1.5% compared to the previous year. Marcelino Oreja stressed that with these results, Enagás has met its targets for the ninth year in a row, meaning that it is in “an excellent position to begin work on the targets set for the 2016-2020 Outlook”.

2016-2020 Outlook

Antonio Llardén used his presentation to explain to the shareholders the company's outlook for 2016-2020, a period in which there are expected to be investment opportunities in the midstream sector arising from the development of gas markets.


Within this context, Enagás will invest an average of 400 million euros yearly up to 2020, taking as its basis its three key areas of international growth: take advantage of its experience as Transmission System Operator (TSO) in the European market, developing gas infrastructures in growth markets and consolidating its position as a world specialist in the liquefied natural gas (LNG) market.

Energy Union

Llardén underlined the fact that Spain is the country with the largest supply capacity in Europe, meaning that it can “make a decisive contribution to ensuring the security of gas supply of the continent”, in line with the objective of the Energy Union, boosted by the European Union. To this end, Enagás is participating in two key projects: the Trans Adriatic Pipeline (TAP), which will supply gas to Europe from the Caspian Sea and the Midcat interconnection pipeline, which is expected to double export capacity from Spain through France.


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